ActiveX In A SQL Agent Job

Hi all,

I have a problem with a SQL Agent JOB on SQL 2K SP3 installation (on Win2K Server).

SQL Agent is running under a domain account with local Admin privileges and SA privileges in SQL server.

A job with an ActiveXScript step fails with "Permission denied: 'CreateObject line..."

If I execute the same ActiveXScript as cmdexec step (calling CSript with the VBScript as parameter) it works without any problem.

The ActiveXScript for reference:
Dim oXls
Dim oWorkBook
Dim oSheet

Set oXLS = CreateObject ("Excel.Application")

oXls.Visible = True
oXls.DisplayAlerts = True

Set oWorkBook = oXLS.WorkBooks.Add
Set oSheet = oWorkBook.ActiveSheet

oSheet.Name = "Test AG"

oWorkBook.SaveAs "C:TempTestAg.Xls"
oWorkBook.Close

Set oSheet = Nothing
Set oWorkBook = Nothing

oXls.Quit
Set oXlS = Nothing


Does anybody have any idea why approach 1 fails while approach 2 does work happily?