Well the manual for that motherboard doesn't actually list what the beeps mean.
But if this website is accurate (and MSI havent done anything weird with their beep codes).
It apparently indicates a POST error.http://www.computerhope.com/beep.htm So just look at what the PC displays during startup (before the Windows logo), and see if anything along the lines of an error shows itself.
Nope, that was old IBM BIOS. American Megatrends BIOS is what most motherboards use. Then it indicates a Parity Circuit Failure, which if this website is to be believed, has something to do with the RAM.http://www.pcguide.com/ts/x/sys/beep/amiB2-c.html
Check in Windows if the full 4GB of RAM is detected (go to "Computer", should say at the bottom). If it is, no idea whats wrong then.