MWMODEM

A problem with your modem drivers. If running 95/98, go under system | devices and remove the modem and shutdown. If the error disappears, that's the problem. Check for updated drivers, and reinstall. I hope this helps

For added info, the driver mentioned is the US Robotics modem driver that can be found at driversguide.com and the 3Com sites.

The IBM Thinkpads tend to have a problem with the MWWAVE modem conflicting with com2. For some reason these are the steps I normally take and it works 9 out of 10 times.

1. Boot the unit with the error.
2. Install the proper Configuration Utility. These are listed on the website below by OS. Grab the latest drivers and bios patch also.
3. Before rebooting th unit at the end of the install, Remove the Mwave device as suggested previously.
4. When the machine comes back up it should find the modem and com2. It will prompt for a reboot. Select NO.
5. Go into the Thinkpad Config. Util and locted the button for Com2(normally along the bottom of the window on right side) DISABLE IT.
6. Have your drivers? now go into device manager and find the mwave modem. Install the proper drivers and remove com2 before you reboot again.

This entire process should take about 15-20 minutes after you complete the downloads. If you atempt to upgrade the bios on the unit, be sure to have it plugged into

I had the same fault, but as I had First aid 98 installed, this fixed the problem automatically. For some reason when Windows started it was looking in the wrong directory for the MWmanager executable.
I hope this helps.