Privacy-Watcher is bogus/rogue privacy protection software lately seen on the internet.
IP Address: 220.127.116.11
Registrar: ESTDOMAINS, INC.
And as usual the registrant is hidden behind privacyprotect.org and another site Winsafer.com also shares the same IP address.
The site also uses Billingserviceonline.com for payment processing which is used by many rogue applications.
VirusTotal Scan Result: 4/32 (12.5%)
AntiVir 18.104.22.168 2008.04.20 SPR/Fake.WinXDe.A.1
DrWeb 4.44.0.09170 2008.04.20 BackDoor.Pcik.origin
F-Secure 6.70.13260.0 2008.04.20 Suspicious:W32/Malware!Gemini
Prevx1 V2 2008.04.20 Heuristic: Suspicious File With Mass Email Capabilities
Detection of the installer is really poor, stay away from this site.
Bharath M N