MOSS 2007: Service unvailable error when accessing Sharepoint 3.0 Central Administration

Problem:
Error
Retrieving the COM class factory for component with CLSID {3D42CCB1-4665-4620-92A3-478F47389230} failed due to the following error: 8007042d.

Solution:
1. Type on run command: secpol.msc
2. On Security Setting > Local policies > User rights assignments
3. Look for object titled "Log on as service" and click it.
4. Add user or group that should have access for the services in sharepoint.