Windows XP problem? Using photoshop 7

I have just purchased a new Gateway 310 XL computer. When I installed Photoshop 7.0 I get the following message :
"The monitor profile "Gateway EV730 Gamm 2.2
Temp: 9300 " appears to be defective. Please rerun your monitor
calibration software"
The picture does appear to be light. I have
adjusted the contrast, bright and everything else and it does not seem
to have made any difference. Blacks don't show up as black they show up
as a light black. Not a true white either. What can I do to correct
this?
Anyone ever heard of this? What can I do to correct it?

Thanks for the help!

Senna

Nope, I'd go back to the store and ask them...

I have called Gateway and I have used there online tech support and they say it is a Photoshop problem.
I was hoping someone here would know.

Senna

Have you created a new monitor profile by running the Adobe Gamma utility?

That should get you where you need to be.