A bit of googling found this...
http://www.mcse.ms/archive168-2005-7-1731727.html
Maybe this registry patch:
http://mvps.org/winhelp2002/RepairTabs.reg 1) Restores the missing Tabs in IE (usually spyware related)
2) Unlocks the grayed-out Home Page section
3) Removes the Administrator message in Internet Options
RC