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ERROR COMES AFTER STUDENT PRODUCT CODE FOR CREO 7, NO SUCCES MASSAGE INDICATE
Did you use this code - BK700908EDSTUDENTEDUNI from the instructions "PTC Creo 7.0 - Student Edition - Quick Installation Guide"?
Please try procedure mentioned as per http://apps.ptc.com/schools/references/install_creo7_unistudent_standard.pdf and see if it helps.
This PDF file is already attached in my post above.