"Life is beautiful" email virus

I received this email, was wondering if anyone could confirm or deny the validity of its statements:

---------- Forwarded Message ----------


> VERY IMPORTANT WARNING
>
> This is not a joke!
>
> Please Be Extremely Careful especially if using
internet mail such as
> Yahoo, Hotmail, AOL and so on. This information
arrived this morning
> direct from both Microsoft and Norton.
>
> Please send it to everybody you know who has access
to the Internet.
>
> You may receive an apparently harmless email with a
Power Point
> presentation "Life is beautiful."
>
> If you receive it DO NOT OPEN THE FILE UNDER ANY
CIRCUMSTANCES, and
delete
> it immediately. If you open this file, a message
will appear on your
> screen saying: "It is too late now, your life is no
longer
beautiful."
> Subsequently you will LOSE EVERYTHING IN YOUR PC and
the person who
sent
> it to you will gain access to your name, e-mail and
password.
>
> This is a new virus which started to circulate on
Saturday afternoon.
AOL
> has already confirmed the severity, and the anti
virus software's are
not
> capable of destroying it. The virus has been created
by a hacker who
calls
> himself "life owner."
>
> PLEASE SEND A COPY OF THIS EMAIL TO ALL YOUR FRIENDS
and ask them to
PASS
> IT ON IMMEDIATELY.