Knowledge Base article Q183119 addresses this problem:
PSS ID Number: Q193119

Article last modified on 11-09-2000

WINDOWS:97

SYMPTOMS

When you insert the last track from any audio CD into a PowerPoint presentation it does not play during a slide show. Furthermore, the counter remains at zero and does not advance.

WORKAROUND

1. On the Insert menu, click Object.

2. From the Object Type list, click Media Clip.

3. On the Insert Clip menu, click CD Audio.

4. On the Edit menu, click Options. Clear all items in the Options dialog box. Click OK.

5. On the Edit menu, click Selection. Select From and specify the last track. Click OK.