Out of memory when opening a pst-file

I’ve got a fair amount of Personal Folder (pst-files) connected in Outlook and I wanted to add another one. When I tried, I got the following error;

“Out of memory or system resources. Close some windows or programs and try again.”

My system has lots of memory (4GB) and still plenty of memory free but even after closing all other applications and restarting my computer, I still get the same error.

How can I open more pst-files?