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Either you have an unlicensed version of the game, or a licensed Windows, but the game is a pirated copy.
General ZeT, Heroes 4 Excalibur cannot be a licensed version in principle :D :D :D It's a "pirated" copy.
Stepen, this happened to me too... especially when I entered the arenas :( Then I was advised to patch the game by installing Equilibrium. But it seemed easier for me to delete and reinstall the licensed version :)