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When installing ArcIMS 4.0 from a network drive, you may receive the above error message indicating that the licensemanagerguide.htm file is missing.
The ArcIMS 4.0 installer deletes the licensemanagerguide.htm file. This is a known problem for ArcIMS 4.0 and will be fixed with the release of ArcIMS 4.0.1.
If the ArcIMS 4.0 CD contents are copied to a network drive, it should be an NTFS drive and one on which you can set file permissions. Set the file permissions to Read for the Everyone group and allow the Domain Administrators to have Full Control. When you install ArcIMS 4.0, use an Administrator account, but not a Domain Administrator account.