Executing a standalone application from MS Office excel

Thanks for the reply. But it didn't work. It says 'Office' reference was not found. But am still trying that idea.Still hoping it might work.

But there's a doubt. Am i not supposed to do anything in excel to include an option in the taskbar to execute that application in Ms Office Excel??

In your stand alone application use the Microsoft.Office.Core
using Office = Microsoft.Office.Core;
This above line enables you add a CommandBar
Office.CommandBar MyCommandBar;
Then add CommandBarButtons objects
Office.CommandBarButton myCommandButton;
Then Add the commandBar to your given application
MyCommandBar = Application.CommandBars.Add("ProjectName", 1, false, true);
Then add the button into the command bar as follow:
myCommandButton = (Office.CommandBarButton)this.MyCommandBar.Controls.Add(Office.MsoControlType.msoControlButton, Type.Missing, Type.Missing, Type.Missing, true);
Then add an event handler to the click event as bellow
myCommandButton.Click += new Microsoft.Office.Core._CommandBarButtonEvents_ClickEventHandler(cmdAdd_Click);