VS 2010 - You might rename the current web.config and add a new one

Dear All,

I have install a VS 2010 on my machine parallely with VS 2005. While running the application from VS 2010 it is giving a alert message saying "Please correct before proceeding. You might rename the current web.config and add a new one". 

My current web.config is as followes:

<?xml version="1.0"?><configuration><connectionStrings><add name="northwndConnectionString" connectionString="Data Source=..\SQLEXPRESS;Initial Catalog=northwnd;User ID=sa;Password=500"
      providerName="System.Data.SqlClient" /></connectionStrings><system.web><compilation debug="true" targetFramework="4.0"><assemblies><add assembly="System.Data.Linq, Version=4.0.0.0, Culture=neutral, PublicKeyToken=B77A5C561934E089"/></assemblies></compilation></system.web><system.webServer><modules runAllManagedModulesForAllRequests="true"/></system.webServer></configuration>

I searched a lot regarding this on google, but never found a satisfactory answer. Please help me on this.

Thanks in advance.