It's the "Windows Media Player Network Sharing Service Configuration" utility and isn't really necessary unless you share media stuff over the network.
Try following the solution in the link below.. (After clicking on the link, look to the left side and click on #10 James Dooley) and follow the instructions for turning off the .exe file.
See Post # 10
Hope this helps.
Hijack this as found this new entry in my start up list WMPNSCFG I did delete it but it came back after reboot it looks like something to do with Media player as anyone come across this before.