If you are running Exchange 5.5 SP3 on a Windows 2000 Server SP1, AD configured, the Exchange services may time...
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out before system and Active Directory are fully initialized.
A workaround is to set all used Exchange services to manual, then after Active Directory is stabilized, toggle your Exchange services. (Or better yet, install Exchange on a dedicated machine that is not a domain controller as recommended by Microsoft.)
Dig Deeper on Legacy Microsoft Exchange Servers