Ok guys, ignore what DavidS suggested, none of it works. I've found the solution, and it works on my xp professional.
I know how frustrating it is trying to get a game to work when it gives you a vague error message, thats why I joined these forums just to make this post and you guys help out. After all it was an awesome movie, and the game is inspiring.
Undo any changes you may have made to the Fifth Element directory and make sure the program isn't set to run is 256 colours, different resolutions or 95/98/any compatibility.
I found the solution on a french website but the file contents are English enough, (skip to the bottom link to download the soda.zip fix):
http://www.jeuxvideo.com/This site then gave me a link to the ecological archives:
http://www.esapubs.org/The site strangely talks about birds, immigration, and matlab. It is actually a site that hosts an analytical program designed to run in matlab, but because matlab is also an old program, the site hosts an archive called soda.zip, which contains files which seem to cover any compatibility issues or absent files win2000 and xp might have.
So Download
Soda.zipExtract. Ignore the file "soda.exe", but copy all the other .dll files to C:\WINDOWS and run the game unmodified, it should work.
Supergreen.