That is a really old program on a really new Windows... only thing I can think of is to right click the install program and select running in a compatibility mode from the pop up options
I have Premiere Elements 9.0/9.0.1 installed on Windows XP 32 bit, Windows 7 64 bit, as well as Windows 8.1 (previously 8) and no problems.
Are you installing the program from installation files (purchased as a download to a Windows or Mac computer??) or from installation disc labelled for Windows?
After the program is installed, then you install the Premiere Elements 9.0.1 Update and work from it.
More details first before we go changing any compatibility settings.