Sending an email from a stored procedure in SQL Server 2005

I am trying to get a stored procedure to work in SQL Server 2005 that was written for SQL Server 2000. It sends an email when called from an application. I tried to run the first part of the stored procedure that creates an OLE object. The 2005 Server is 32-bit. I get the error:

OLE Automation error Information HRESULT: 0x80040154 Source: ODSOLE Extended Procedure Description: Class not registered

This is the query that I am running:

DECLARE @object int
DECLARE @hr int
DECLARE @property varchar(255)
DECLARE @return varchar(255)

EXEC @hr = sp_OACreate '{DB486713-E4A9-11D3-AC19-00C04FA308B2}', @object OUT
IF @hr <> 0
BEGIN
    EXEC sp_displayoaerrorinfo @object, @hr
    RETURN
END

I don't know what kind of object that is created from the CLSID. There is no documentation.

Does anyone know why I am getting this error?

THanks.