Event Properties Event 1003 DHCP-Client what is this

Log Name:      Microsoft-Windows-Dhcp-Client/Admin
Source:        Microsoft-Windows-Dhcp-Client
Date:          2/10/2013 2:46:43 AM
Event ID:      1003
Task Category: Address Configuration State Event
Level:         Warning
Keywords:     
User:          LOCAL SERVICE
Computer:      LaMachine-PC
Description:
Your computer was not able to renew its address from the network (from the DHCP Server) for the Network Card with network address 0x100BA904D86C.  The following error occurred: 0x79. Your computer will continue to try and obtain an address on its own from the network address (DHCP) server.
Event Xml:
<Event xmlns
  <System>
    <Provider Name="Microsoft-Windows-Dhcp-Client" Guid="{15A7A4F8-0072-4EAB-ABAD-F98A4D666AED}" />
    <EventID>1003</EventID>
    <Version>0</Version>
    <Level>3</Level>
    <Task>3</Task>
    <Opcode>77</Opcode>
    <Keywords>0x4000000000000000</Keywords>
    <TimeCreated SystemTime="2013-02-10T10:46:43.222511900Z" />
    <EventRecordID>927</EventRecordID>
    <Correlation />
    <Execution ProcessID="376" ThreadID="124" />
    <Channel>Microsoft-Windows-Dhcp-Client/Admin</Channel>
    <Computer>LaMachine-PC</Computer>
    <Security UserID="S-1-5-19" />
  </System>
  <EventData>
    <Data Name="HWLength">6</Data>
    <Data Name="HWAddress">100BA904D86C</Data>
    <Data Name="StatusCode">121</Data>
  </EventData>
</Event>