ASP.NET Permissions exception after setting permissions

I get "Exception Details: System.UnauthorizedAccessException: Access to the path "c:\windows\microsoft.net\framework\v1.1.4322\Temporary ASP.NET Files\webapplication1\8dd84b00\b065eec7" is denied.

ASP.NET is not authorized to access the requested resource. ...."

The folders "webapplication1\8dd84b00\b065eec7" have not been created. I right clicked Temporary ASP.NET Files and ensured {MACHINE}\ASPNET had permission. I also gave permission for "C:\Inetpub\wwwroot\WebApplication1".

But, I still get the above exception. I tried stopping and starting the IIS. Is it a permissions problem or does it expect that "webapplication1\8dd84b00\b065eec7" are already created and I have failed to allow this to happen and it is rather an access problem? ...