Could not load file or assembly ‘System.Web.Extensions, Version=, Culture=neutral, PublicKeyToken=31bf3856ad364e35′ or one of its dependencies. The located assembly’s manifest definition does not match the assembly reference. (Exception from HRESULT: 0×80131040)

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I got this error when I am trying to create a report using Crystal Reports tool included in VS2008 with .NET 3.5 SP1. I also have VS2005 installed. I found perfect solution on the below website but must consider the scenario.