F9->Shift-F9 Exception passing in Olly

Bgrimm does the TestApp run in w2k it seems it doesnt have import table at all
w2k would require atleast one import to function properly
so i tried encrypting icztutes messagebox.exe with all the check boxes checked
it said file successfully encrypted
but i try to run it it doesnt run
i see it fails
CALL ntdll.LdrpRunInitializeRoutines

probably he is hard coding some address in one of his blah blah
Log data, item 0
Address=77E878C1
Message=Access violation when executing [77E878C1]
77e8 would be my kernel32.dll base which hasnt been mapped yet by the loader


and i thought he might have encrypted his own exeblah and it seems he hasnt
encrypted it
can youverify if it actually runs in w2k sp4 ??
thanks and regards