10.5.8 word and excel - not enough memory

I used word with no problem and then all of a sudden it doesn't work. I get the "The application Microsoft Word unexpectedly quit" as soon as I try to open the application. I have just installed the Aug 2009 10.5.8 software update. Nothing changed. Any help would be very much appreciated.

Hardware ..Overview:

Model Name: MacBook
Model Identifier: MacBook1,1
Processor Name: Intel Core Duo
Processor Speed: 2 GHz
Number Of Processors: 1
Total Number Of Cores: 2
L2 Cache: 2 MB
Memory: 1 GB
Bus Speed: 667 MHz
Boot ROM Version: MB11.0061.B03
SMC Version (system): 1.4f12
Serial Number (system): 4H61600CVMM
Hardware UUID: 00000000-0000-1000-8000-0016CBA53B03
Sudden Motion Sensor:
State: Enabled

I have 50GB avail on my hard drive.

The "details" that come up ...

Process: Microsoft Word [320]
Path: /Users/Blackbook/Desktop/Microsoft Word.app/Contents/MacOS/Microsoft Word
Identifier: com.microsoft.Word
Version: ??? (???)
Build Info: Unknown-90605~0
Code Type: X86 (Native)
Parent Process: launchd [117]

Interval Since Last Report: 88 sec
Crashes Since Last Report: 1
Per-App Interval Since Last Report: 0 sec
Per-App Crashes Since Last Report: 1

Date/Time: 2011-03-07 23:02:33.206 -0800
OS Version: Mac OS X 10.5.8 (9L31a)
Report Version: 6
Anonymous UUID: BCD095D4-08C2-43DA-B0C2-F5499351536A

Exception Type: EXC_BREAKPOINT (SIGTRAP)
Exception Codes: 0x0000000000000002, 0x0000000000000000
Crashed Thread: 0

Dyld Error Message:
Library not loaded: @executable_path/../Frameworks/MicrosoftComponentPlugin.framework/Versions/12/MicrosoftComponentPlugin
Referenced from: /Users/Blackbook/Desktop/Microsoft Word.app/Contents/MacOS/Microsoft Word
Reason: image not found