See if this helps:
http://www.mvps.org/sramesh2k/IEFAQ.htm#IEOpen
Also, to reinstall Internet Explorer, follow the below
outlined steps:
Download patch from following URL:
http://www.dougknox.com/xp/scripts/xp_run_ie_setup.vbs
Usage: Download the file to your computer and simply
double-click it so that it would automatically get
installed. If you are prompted to enter Windows XP CD.
Place the Windows XP CD in the CD drive and navigate to
the i386 folder. If you happend you to use a OEM version
of Windows XP, then provide the below path:
C:\Windows\i386
NOTE: Norton anti-virus software might warn you of
a "malicious" script, this is normal if you have "Script
Safe" or similar technology enabled.I recommend you to
choose "Authorize entire script" option next Action.
Alternatively, follow these steps:
Click Start, run and type the below command in RUN dialog
box and click OK.
rundll32.exe setupapi,InstallHinfSection DefaultInstall
132 %windir%\Inf\ie.inf
** You may be prompted for the Windows XP CD.
HTH