ArcToolbox closes when using the Project Wizard

Description

ArcToolbox crashes when performing the following operation:

When converting data to a new coordinate system using the Project Wizard for shapefiles and geodatabases, the output geographic coordinate system (datum) differs from the input geographic coordinate system. A prompt asks for the selection or the set up of a geographic (datum) transformation.

Before clicking OK in the geographic transformations window, be sure to select an existing transformation or define a new transformation. If this is not done, the following error message may occur:

"The instruction at <"0x........"> referenced memory at <"0xffffffff">. The memory could not be "read"."

The error message is repeated twice and the wizard will close.

Note:
The text between < > can vary; however, the text always contains: "0x........(eight alphanumeric characters)".

Cause

Unknown at this time.

Solution or Workaround