Package failure: The package execution failed. The step failed

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When I execute the package manually (right click on the file, Open
With | Execute Package Utility), the package executes normally until it
reaches a line
'Information: Execute phase beginning'. At which point it seems like
processing stops (no other messages).

I'm receiving this error when executing the package using a scheduled
agent:
'Executed as user: MRSZAW\SYSTEM. The package execution failed. The
step failed.'

This package executes successfully when I create and run through the
DTS wizard.

This is MS SQL Server 2005

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