Hi Zainu, make sure you check the path that's shown in the error dialog on your system (depending on version, language, operating system etc the path to the file will be different). Or follow the instructions in post: http://area.autodesk.com/blogs/maxstation/n21_resetting_the_user_settings_in_3ds_max
If that doesn't help: post about this in the 3ds Max 2008 discussion group that's a better place to get your problem resolved (include a screenshot of the error you're getting).