It indicates a directory traversal vulnerability in Microsoft FrontPage or Personal Web Server (PWS).
There exists a vulnerability in file access protocols of Microsoft PWS and FrontPage PWS that allows attackers to read arbitrary files by sending a specially-crafted message to the target system.
Any unprotected FrontPage Personal Web Server 1.0 or MS Personal Web Server 4.0 is vulnerable to the attack.
Attackers can read arbitrary files on the victim system.
Apply appropriate patches from Microsoft and/or upgrade the program to the latest non-vulnerable version.