Arial font styles not applying

I’m having a strange issue with the Arial font in Flash CS4. I can create a text box and choose the Arial font. That appears to look like regular Arial text. However, if I want to choose a style (italic, bold, bold italic) the text does not change at all. These fonts are loaded on my system and always have been. They work in Flash CS3 and they work in all other programs including Illustrator and Photoshop CS4. In addition to that, all other fonts seem to work just fine including Arial Narrow and the other general system fonts. Arial Narrow allows me to select and apply all the available styles. It seems to be specific to Arial.

This also happens when I open a file that was originally created in CS3 or Flash 8. The font mapping notification does not appear, but if I had a text box that is supposed to be Arial Bold Italic, it automatically changes to look like regular Arial.

Has anyone experienced this and know what I can do to fix it? I’ve googled the topic and searched forums, but haven’t found an answer. I have a ton of files that need to use the Arial font with sytles, and this is causing a serious issue.

Thanks for you help in advance!