Drimngr service


I recently installed gpg4win, and initially everything seemed to work ok. However, I noticed a very slow startup next time I restarted my laptop.
Checking the event viewer, I found 2 entries in the system log, both related to the service Dirmngr. The first error has event ID 7022: “The DirMngr service hung on starting”.
Second error event ID 7034: “The DirMngr service terminated unexpectedly. It has done this 1 time(s)”.
Tried to start the service manually, but then I get the message: “Could not start the DirMngr service on local computer. Error 1067: The process terminated unexpectedly”.
Can anyone explain to me what this service does, whether it’s required and if so, how I can get it to work?
By the way, working on a WinXP SP3 machine, intel centrino dual core with 2GB ram.