Deploying stand alone applications

Hello Every One, I have been trying to make a stand alone application (which should run on a pc without MATLAB) I have generated .exe by using the matlab complier ver 4.7 (2007b). In my target PC, i have installed MCR version 7.7 (taken from host PC where MATLAB is installed) and added c:Programfiles\MATLAB\MATLAB Component Runtime\v77\runtime\win32 to the PATH Variable.

Now i expect that clicking on the .exe file should run the application. But in my case, DOS Prompt opens and closes on its own and creates a file with _mcr appended to the application name (which contains no info) and application won't run.

Pls help me to come out of this issue.