AIM instant messenger error 0x8000FFFF

Hello,
I have been using AIM instant messenger on my system and it was working perfectly but just yesterday I was not able to chat anymore. The following message appeared on my screen:

AIM error:
I have searched a lot for this kind of an error on the web but found no solution.
Has anyone else also encountered such a problem?
Do let me know if you have a solution to my query as I am at my wits end now.
Waiting for your replies
Regards
Aron
