Can't Create New Folder in InetPub Directory

I'm trying to set-up a new Web site on a Web server where I'm already hosting a couple other sites. I have administrative rights on the Web server and I have plenty of space available for my network card (as well as plenty of disk space). I've registered the site and set-up the DNS and have the site live to the Web outside of the Inetpub directory. However I'm not able to create any new folders in the Inetpub directory.

When I try to create a new folder I get the following message: Inetpub - Unable to create the folder 'New Folder' Acces is denied. If I try to create a new folder outside of Inetpub and try to drag it into Inetpub I get this error: Error Copying Filer or FOlder - Cannot create or replace 'Folder Name'. Acces is denied. Make sure the disk is not full or write-prootected and that the file is not currently in use. For permissions on the folder I have "Everyone", "Interactive", "Network", and "System". "Administrators" is not listed under security which I found odd. When I try to add it nothing happens, I just get an hour glass and it just sits there.

Any suggestions would be appreciated.

Sounds like something is screwed up with your file permissions

Maybe something here will help if you are running IIS5

http://support.microsoft.com/defaul...kb;en-us;309051