File Corruption in OS (W2K)

I have some computers in my office that my lead would like me to troubleshoot to see what’s wrong with them, as we got pretty busy and forgot what the problem is with each (good learning experience for me, though, i guess).

On one box, upon booting, when W2k is starting, it stops, and i get the following error msg:

W2K could not start because the following file is missing or corrupt: \WINNT\SYSTEM32\CONFIG\SYSTEM

Is reloading the OS the solution?