Elisa
In addition to the comments by Cari, although overall you may have plenty of free space if the hard drive is partitioned then you need to have a minimum of free space in the partition where the paging file is located.
Other situations:
Error Message: "Your System is Low on Virtual Memory" When You Try to Start an Office 2003 Program
http://support.microsoft.com/default.aspx?scid=kb;en-us;826513
If you have Norton Personal Firewall read this:
http://support.microsoft.com/default.aspx?scid=kb;en-us;811153&Product=winxp
If the message occurs when playing certain games look here:
You receive the "Your system is low on virtual memory" error message when you start or play a Microsoft game
http://support.microsoft.com/default.aspx?scid=kb;en-us;837869
If none of the above apply and the error message contains the specific words "low on virtual memory" then tell us what exactly you are doing when the error message appears. There are a number of other less common causes.
If the error message contains "low memory" or other similar words post the full text of the message and what you are doing when the error occurs.
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Hope this helps.
Gerry
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