.NET 4.0 Web App Timeout Error When Calling .NET 1.1 Web Service

I am in desperate need of some assistance or advice on solving an issue that has been plaquing me for a week now. Here is my scenario and issue.

I have created a new .NET 4.0 Web Application in VS 2010 that is referencing a .NET 1.1 DLL. This DLL then references a .NET 1.1 Web Service. In the .NET 4.0 app I can create an instance of the .NET 1.1 web reference thru the .NET 1.1. However, my issue is that as soon as I make any function calls to the .NET 1.1 Web Service, I emmediatly get a Timeout exception.

I'm under the assumption that this is a configuration issue, but I have been unsuccesful in me attempts to search the web for solutions.

Please Help,

Thanks