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Behavior:
When running an upgrade of Fortis and you should encounter this error message even though you have .NET Framework 3.5 SP1 installed, do the following:

Solution:

  1.  In the Fortis media, browse out to the cdmedia_2.6.0\WKSetup\PreRequisites\
  2. Run the dotNetFx40 executable by right clicking "Run As Administrator"