error when building an virtual path in iis

i met an strange problem when building  a test website in iis. exploring in the event viewer, i found several errors:

1>Failed to initialize the AppDomain:/LM/W3SVC/1/Root/Test

Exception: System.IO.FileLoadException

Message: Could not load file or assembly 'System.Web, Version=2.0.0.0, Culture=neutral, PublicKeyToken=b03f5f7f11d50a3a' or one of its dependencies. Access is denied......

2> Failed to execute the request because the ASP.NET process identity does not have read permissions to the global assembly cache

3>aspnet_wp.exe (PID: 4980) stopped unexpectedly.

Solutions: add the user ASPNET to the security property of the folder.

reference: http://www.tech-archive.net/Archive/DotNet/microsoft.public.dotnet.framework.aspnet/2006-03/msg02325.html