Apparently you need to extract mp.dll from the gcf file, as the latest steam update deletes it.. Use GCFScape to extract the required file. Download GCFScape here -
http://countermap.counter-strike.net...x.php?c=76#p76 (Note that GCFScape requires the Microsoft .Net Framework v1.1 to work. The page for GCFScape has a download link for this (23MB) )