As per Microsoft: "This could be caused by network connectivity issues, a DHCP server or relay malfunction, firewall issues, or a malfunction of your computer's network interface card or driver". See MSW2KDB
See "IBM Support Document id: MIGR-58745" for additional information about this event.
This event was due to ISA 2004 server being installed on the computer. By default the ISA system policy is set to block dhcp traffic. I resolved the issue by going into "Edit System policy" in ISA server management and enabling the DHCP rule (the first under network services). This allowed DHCP traffic to flow and DHCP to work after a reboot without this event.
As per Microsoft this EventID also appears if you have a system running Windows NT version 4.0, with Service Pack 2 applied, in a source routed Token Ring environment and configured as a DHCP client. See ME163383
to resolve this problem.
I was only noticing this problem with clients not getting an IP address, on Windows XP machines when they would boot or restart their computers. Using Dell PowerConnect Switches I had to enable "Edge Port" on each port that a computer, laptop, or network device was connected to, except any hubs or switches. Per Dell this was so that the link was immediately available to computers when they started up. I have Win2000 clients that have no problems with this, although they had similar events logged in the Event Viewer. I guess this is mostly because Windows XP boots up so much faster.
If DEC Alpha computer running Windows NT 4.0 (SP2) fails to lease DHCP addresses the solution is to install the last service pack. See ME163261