Need Assistance With Excel File

I am having difficulty creating a dynamic connection string to an Excel file. For flat files I would assign the ConnectionString property to a variable. However I keep getting errors at compile time when I do this with a Excel file. I am trying to use a ForEachFile Loop to id the Excel file and pass it to the Excel Connection Manager. The ForEachFile Loop works fine with passing the connection to a flat file. I have followed the steps in BOK http://technet.microsoft.com/en-us/library/ms345182.aspx

I keep getting the following error:
TITLE: Package Validation Error
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Package Validation Error
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ADDITIONAL INFORMATION:
Error at SLOCs [Excel Source [1]]: The AcquireConnection method call to the connection manager "Excel Connection Manager" failed with error code 0xC0202009.
Error at SLOCs [DTS.Pipeline]: component "Excel Source" (1) failed validation and returned error code 0xC020801C.
Error at SLOCs [DTS.Pipeline]: One or more component failed validation.
Error at SLOCs: There were errors during task validation.
Error at MS2 Generic Requirements [Connection manager "Excel Connection Manager"]: An OLE DB error has occurred. Error code: 0x80004005.
An OLE DB record is available. Source: "Microsoft JET Database Engine" Hresult: 0x80004005 Description: "Invalid argument.".
(Microsoft.DataTransformationServices.VsIntegration)
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BUTTONS:
OK
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Any suggestions would be GREATLY appreciated.

Thanks,
Lee