msgsrv32.exe is a process which is initiated by Microsoft Windows 9x and ME only. It acts as a 32 bit message server and will never appear in the Windows task list unless there is a problem with it. At any other time it should be left enabled.
msgsrv32.exe is a system process that is needed for your PC to work properly. It should not be removed.
Check your system now to identify unused processes that are slowing down your computer.