Problem accessing Virtual Directory

I have an IIS 5.0 server with a Virtual Directory called test. This virtual
directory points to a share on the network, \\server1\share\ and uses a valid
domain account in the "Connect As" field.

From an IE browser, you can access the virtual directory without a problem.
However, when referencing the virtual diretory in an asp page, the following
error is received:

Microsoft VBScript runtime error '800a004c'

Path not found

/Folder1/webpage.asp, line 10


Line 10 is where the virtual directory is referenced.

I have tried changing the network share permission to Full access for
EVERYONE, but that did not work. I also changed the "Connect As" credentials
to an administrator account, but again without an luck. I have tested this
on two other web servers, 1 works and 1 doesn't, but I can't find any
differences in their IIS Settings.

Does anyone have any ideas??