To completely remove the ads in MSN Live Messenger
1. Make sure your MSN is completely shutdown/exit.
2. Download ResHacker.
3. Use it to open msgsres.dll (found in the Live Messenger install directory).
4. To remove the annoying flashing ads in the buddy-list window browse to 4004/923/ and find and edit the line <Constrainer layoutpos=top ID=Atom(SSConstrainer) Layout=FillLayout()> to <Constrainer layoutpos=none ID=Atom(SSConstrainer) Layout=FillLayout()>.
5. Click the compile script before going to the next step.
6. To remove the text links in the chat windows browse to 4004/920/ and change element id=atom(adbannercont) layout=filllayout() to element id=atom(adbannercont) layoutpos=none layout=filllayout().
7. Click the compile script before going to the next step.
8. Save and exit ResHacker and run MSN Live Messenger, you will notice there will be no more ads.

p/s: If this has been posted b4, mod kindly delete my thread