Companyweb and SharePoint Central Admin not accessible after installing KB2345304

If you have found that you are unable to browse either Companyweb or Sharepoint Central Administration after applying KB 2345304 (MS10-072: Description of the security update for Windows SharePoint Services 3.0: October 12, 2010), then refer to the following blogpost for more information and steps on how to fix the issue:

https://blogs.technet.com/b/sbs/archive/2010/06/18/companyweb-and-sharepoint-central-admin-not-accessible-after-installing-kb983444.aspx