Unable to open WAD (Web Application Designer) SAP BW 3.x

Hi experts

In my computer I don´t open WAD (SAP BW 3.x)

i make click start-> programs -> Business Explorer-> Business Explorer(SAP BW 3.x)-> Web Application Designer(SAP BW 3.x)

appears following error:

This application requires Internet Explorer 5 or higher

but I have installed the Internet Explorer 8 version

then I do not understand because can´t run the WAD 3.x

Can anyone help me? please

Thanks