Unable to create AddonSetup Project

I'm trying to create a new project based on a VB B1 AddOnInstaller Setup .NET template. I installed B1DE:SAP Business One Development Environment Tools version 1.5 (I also tried 1.3 but I get the same problem) and the installation was successful (as far as I can tell) without any error messages. I'm using VB 2005 Express. When I try to create the project it allows me to enter the usual details into the wizard, but when I click Finish it fails with the error message saying: "The template specified cannot be found. Please check that the full path is correct."

Any ideas, please?