When creating a SharePoint Shared Services provider (SSP), you receive the following error:
(Provisioning failed: Access is denied. (Exception from HRESULT: 0×80070005 (E_ACCESSDENIED)))

Solution:
Check the Windows SharePoint Services Timer if its running and try restarting it. You may have to update the services logon credentials.

This link can help you further: http://support.microsoft.com/kb/934838