You can use the free Windows Media Encoder from Microsoft to leverage much greater control of the encoding process than you can from within Premiere Pro.
“Adobe Media Encoder” and “To specify Windows Media Audiences options” in the Premiere Pro 2.0 Help.
“Producing Final Video” and “Alternates and Audiences preset options” in the Premiere Pro 1.x Help.
See Microsoft for details of the Windows Media Video and Windows Media Audio formats.
Premiere Pro may become unresponsive if you import a .WMV file that has a long duration (on the order of 1.5 hours).
See the C:\Program Files\Adobe\Premiere Pro x.x\ReadMe file for important information about Windows Media.
Troubleshooting[]
If you're having trouble exporting to Windows Media format then try the following:
Open a command prompt
Type CD "c:\Program Files\Adobe\Adobe Premiere Pro CS3" and press the Enter key, or search for the file "WMencodingHelper.exe" and change to its containing folder.
Type WMencodingHelper.exe /regserver and press the Enter key.