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Default excel Crashing

Faulting application excel.exe, version 12.0.4518.1014, stamp 45428263,
faulting module oart.dll, version 12.0.4518.1014, stamp 454283f8, debug? 0,
fault address 0x000f4b88.
"Excel cannot complete this task with available resources. Choose less data
or close other applications."

The file only crashed when using 2007 excel sp1. Not an issue with excel
2003.

The user has 4GB RAM/ windows xp sp3 and are not using more than 10% of
local resources. Office and windows is fully patched. Any ideas?
 
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