I had just able to locate the IIS Metabase file. There is a discussion on that on above post. You can find that in Exchange OWA Virtual folder. Go inside AppRoot. It looks that if this is missing you get that kind of problme. You can verify the same inside /LM/W3SVC/1/Root/Exchange. The default attribute which is used is AppRoot. If this is missing then this kind of errors are common and you will be annoyed with the same.
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