Unable to send emails error: 0xC00402C7

Hi

I am trying to send a simple email through the following code:

protected void email_Click(object sender, EventArgs e)
    {
        //Utility.Email.sendEmail(host, -1, hostemail, "bydemandchd@yahoo.com", "Task Assignment", "emailBody");
        System.Web.Mail.MailMessage mail = new System.Web.Mail.MailMessage();
        mail.To = "anshul@cobait.net";
        mail.From = "jude@cobait.net";
        mail.Body = "test";
        try {
            SmtpMail.SmtpServer = "localhost";
            SmtpMail.Send(mail);
& ...