File conversion

My boss recently gave me a part to put into one of my assemblies. However, when I try to either open just the part itself or open it in the assembly I get the error message "This file was last saved in SolidWorks 2006 or earlier. The model contains PhotoWorks Materials, which are not supported in this version of SolidWorks. If you save the file, the PhotoWorks materials will be removed. To keep the Photoworks materials, furst save the file in SolidWorks 2007, 2008,2009, or 2010, and then reopen the file in this version. After this, when I ophen the part, it only appears as an STL Graphic, and I cant use it for anything in the assembly. How do I make this part usable again? Thanks.

T

SolidworksParts And Features