Make sure you installed DirectX 9c, and you may want to try a fresh reinstall from the retail CDs after uninstalling and deleting the whole folder. Another suggestion would be to try getting support on the P99 forums, as they have some custom files and I don't know what odd effects those can cause offhand, but they might.
Also, I noticed in your screenshot, the MOTD asks, "Did you click a google"? Maybe you didn't click on enough google yet for the textures to load.
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