What operating system are you running?
You cut/paste your Elemental.exe into the folder with this fix. Then run RunMe.bat.
Pick A for the options. It will say "Large Address Aware Enabled"
Press a key to continue, and then E to exit.
Then cut/paste your Elemental.exe back to your game folder.
REMEMBER. This is NOT going to help your game run more smoothly or anything. The ONLY ONLY ONLY ONLY thing it is going to do is help with out of memory crashes. If you do not get out of memory crashes then this will probably MAKE your game crash for other reasons. This is not a performance boosting patch.
Also if you have a 32bit operating system you have to do further steps to make it work.
If you have Windows XP then there are even further steps required, and since I don't have XP I really can't help with it.