c:\panzer  script\  = wrong
           c:\panzer_script\  = correct

  Make sure the box in the extract window 

          "USE FOLDER NAMES" 

  is checked. Panzer stores and will store some info in separate
  sub folders, and it's important that these sub folders are created.

  - Click the EXTRACT button to make WINZIP unzip the files 

  Copy the 2 following files from the location you have mIRC
  installed (remember, it must be mIRC 5.51): 

             mirc32.exe & mlink32.exe 

  into the location you choosed to install the script. 
  If C:\PANZER\ was your choice, that would be the 
  location to copy those 2 files into. 

  - Click on the mirc32.exe file to run mIRC (& Panzer)

   NEXT =>  SETUP