Type of File Error

When we tried to use Adobe Premiere Pro 5.5  for the first time our video files wouldn't work and there was this error message that came up

Because of this we couldn't view our files. After Googling why this was we found out that my video camera that we use to shoot the film used the file format of MOD and unfortunatley Premiere Pro is not compatable with this software, therefore I went online and converted all of our files over to a MPG format this way Premiere is compatable with it.