It sounds very much like you are creating a 64 bit executable, which cannot run on a 32 bit system. If you use the IExpress version from the 64 bit system directory, C:\Windows\System32, then you will indeed create a 64 bit executable.
You'll need to create a 32 bit executable instead, which you can do by running the 32 bit version of IExpress. That is found in the 32 bit system directory, C:\Windows\SysWOW64. Or you can use your 32 bit machine to create the executable.