How to fix MS Visual studio Error " The filename, directory name, or volume label syntax is incorrect.(Exception from HResult:0x8007007B) "

I keep getting this error while trying to add a project under a folder in blank solution using Microsoft visual studio 2005. I did not use any character like .? etc in filename but still got the error until i just figured out that the directory path of project contained & character.e.g my project had a directory path C:\My Projects & research\myproject\ where directory My Projects & research