Vista - Media Player 11 error "An audio codec is needed to play this file"

I have recently purchased a dell laptop that came with Windows Vista preinstalled. There is some kind of problem with Windows Media Player 11 which isnt working from day 1. I am not able to play WMV files because I dont have a sound card installed which is infact installed and working properly because other programs are using it without any problems. I am also not able to play WMA files and get the below error message:

An audio codec is needed to play this file.
To determine if this codec is available to download from the Web, click Web Help and I get: You've encountered an error message C00D10D1 while using Windows Media Player. The following information might help you troubleshoot the issue.

Codec is missing
Windows Media Player cannot play the file (or cannot play either the audio or video portion of the file) because the Sipro Lab Telecom ACELP.net (130) codec is not installed on your computer.

The missing codec might be available to download from the Internet. To search for the Sipro Lab Telecom ACELP.net (130) codec, see WMPlugins.com.

Can anyone please help me out. Thank you

The missing codec might be available to download from the Internet. To search for the Sipro Lab Telecom ACELP.net (130) codec, go to the WMPlugins.com website here - http://go.microsoft.com/fwlink/?LinkId=66220&codec=130

You can also download the Codec Installation Package that can be used as an alternative to automatically downloading Windows Media Codecs, or to correct problems experienced with previously-downloaded codecs. Download it from this link - http://www.microsoft.com/en-us/downl...on.aspx?id=507

To solve this problem instead of using Windows Media Player, download and install WinAmp. This program can now rip your CDs and compress to AAC or WAV as well. Winamp has a burning function, you will be able to burn your playlists and create your own compilations. Plugins version 2 can be used as the program retains compatibility.

Can you try to open Windows Media Player and then go to its Tools> Options > Devices > Speakers and then click on the Properties and check that in the Sound Playback, the sound card is listed and not the default direct sound device, which was set for me. After that click OK. You can also try to go to the Player tab and then check to Connect to the Internet and then download Codecs Automatically, so that you will be certain that it will download the required codecs that is needed for the file. This will fix the problem with WMP which was not able to recognize the WMV files or such.