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go to www.olympusamerica.com click the link for software downloads and then click the link for the free download of Olympus Master 2. This is the latest software that will be compatible with your camera.
After contacting Olympus in hamburg, the problem was solved and installation of the new software (version 2.06) was possible.
There is - however - a bug when you choose the automatic update system. Don not do that and the program is running OK!
Tried pulling the XD media and reading it on the computer but my computer wanted to format the thing (never seen that with SD or Compact Flash, what gives?) so that was a no for the moment.
Finally, I went to the files that I had copied from the CD to my hard drive and double-clicked the OM2_Pack_Framework_2_0_4.cab file found in the OLYMPUS\OLYMPUS Master 2 directory. That contains a bunch of .cab files, that I extracted to another directory. In there, I found a application.cab, which I then extracted to yet another directory. In there, I found OLYMPUS Master.exe. That ran fine when I double clicked on it, but I still had the problem of not being able to read the XD directly, so I hooked the USB up to the camera with the XD back in the camera and was able to transfer the images in that manner.