Projects targeting .NET Compact Framework 1.0 require version 1.1 of the .NET Framework, which is not detected on this machine
Visual Studio 2005 projects that target .NET Compact Framework version 1.0 require version 1.1 of the (desktop) .NET Framework. Smartphone 2003 projects fall into this category.
Version 1.1 of the .NET Framework was not detected on the development computer.
Visual Studio 2008 does not support .NET Compact Framework 1.0.
To install version 1.1 of the .NET Framework
Download and install version 1.1 of the .NET Framework.
Instructions are in the Microsoft .NET Framework Developer Center.