Crack the code and win a Hummer H2!

The challenge is over!
And again - no winner!

Meganet Corporation offered a Hummer H2 to the first person who can crack the code. The challenge was to break into a file encrypted with our proprietary technology, Virtual Matrix Encryption.

Virtual Matrix Encryption, or VME, is a one-of-a-kind commercially available, unbreakable encryption engine.  Utilizing a combination of Virtual Matrices and a 1,048,576 bit symmetric key, VME is impervious to brute force attacks.

The term of the challenge started September 15, 2003 12:00pm and expired 5:00pm March 15, 2004 Pacific Standard Time.  During the term of the challenge, challengers were provided with a zip file containing:
Vme03x32.exe - VME Decryptor application
Challenge.vme - encrypted challenge file
Readme.txt - explanation of the challenge.

Challenger 's were encouraged to attempt and decipher. Should a challenger had been successful in deciphering the VME-encrypted file, the challenger would have been awarded the prize of Hummer H2. 

The Solution: 
1- Download the zipped file and save to your hard disk. i.e.: C:\VME Challenge\ . 
2- Unzip the file, and extract it to that same folder.
3- Run the VME03X32.exe file.
4- Open the file solution.gif
5- Using the supplied files and the solution.gif fill out the fields in the decryptor application.
6- Make sure all the passwords are correct, the files referenced are in that location, and the decryptor application looks like the solution.gif.
7- Click decrypt.
8- Go to your folder and find a new file challenge.pdf this is the solution.

Thank you for participating!