All .NET applications that use data-access functionality require MDAC 2.6 or later. You can read more about this on:
http://support.microsoft.com/kb/315467
Also I stumbled upon some known issue with MDAC on .NET 2.0 framework, so if you have MDAC installed and you’re using .NET 2.0 try fixing this issue by starting your command prompt and run the following command: sfc /scannow