AcquireConnection method call to the connection manager "Excel Connection Manager" failed with error code 0xC0202009 when exporting data from excel

When we are exporting data from excel sheet to a table in a SQL 2005/2008 database. we come across an error "the AcquireConnection method call to the connection manager "Excel Connection Manager" failed with error code 0xC0202009". This error comes up when the run64bitruntime is in True State.
The state can be changed to false by following the below steps.
1> go to soution explorer. Right click on the SSIS project and then click on properties.
2> Then in the property box, select debugging in the left pane.
3> Then in the right pane, we can see Run64bitRuntime is set as True. Please change it False. This shall resolve the issue.