When I try to update photoshop 7.0, it tells me it can't fint c:Program Files (x86\Adobe\Photoshop 7.0. However this is there.

I am trying to update my Photoshop 7.0 on a new Computer using Windows 7, but I am getting the message C:\Program Files (x86\Adobe\Photoshop 7.0\ is not there. I installed 7.0 from my original disk and the directory does exist.  I had no issues when I updated in Windows XP.  Is there a compatibility issue with Windows 7?

Thank You