Age of Wonders 1 - Cannot run with sound enabled

I just installed this old game on my computer but cannot manage to make it run properly.

At first, when I just installed and run it, it opens and then closes without saying anything (just the classical Windows crash "aow.exe stops working......."). Tried all combinations in the game setup until found that the crash was ocurring with the sound.

When I disable the sound prior to start the game, it runs perfectly (quietly of course). If, inside game, I enable sound, it crashes again immediately. But without sound it works OK.

Now my question is, How to make the sound work again? Has anyonefaced the same issue? Or what should I look to try to solve it?
Thanks.

Thanks BlackSparrow, but didn't helped. Tried to run it in all compatibility modes, but it does the same, works OK all the time until I turn sound on, when it crashes.

Very boring to play without sound
BTW, not only the game existed before Win7, it was out even before XP existed

It works!!
As the link says, disabling DEP for the game effectively solves it and now it works as it should. Would have never imagined that such setting can affect it.
Thanks for the help!