System.Web.AspNetHostingPermission Exception on New Deployment

I have a friend that is moving a web application from one server over to another. The new server has the same settings as the first server, however, he's running into a Security issue. Here's the error details:

Request for the permission of type 'System.Web.AspNetHostingPermission, System, Version=2.0.0.0, Culture=neutral, PublicKeyToken=b77a5c561934e089' failed.

The Event Viewer 开发者_高级运维does not point to anything specific in the web.config file or anything. The web applicaiton is on the C: drive. This is a Windows Server 2008 R2 x64 server with a brand new IIS 7 installation. IIS is set in classic mode for this app pool.

Have you tried changing the "Load User Profile" App Pool setting to True (the default is False)?