using soapUI 3.0-beta2 "ERROR:java.net.UnknownHostException:"

I am using soapUI 3.0-beta2 "ERROR:java.net.UnknownHostException:" Full stack trace below.

ERROR:java.net.UnknownHostException: MM-DM01
  java.net.UnknownHostException: MM-DM01
  at java.net.PlainSocketImpl.connect(Unknown Source)
  at java.net.SocksSocketImpl.connect(Unknown Source)
  at java.net.Socket.connect(Unknown Source)
  at java.net.Socket.connect(Unknown Source)
  at java.net.Socket.(Unknown Source)
  at java.net.Socket.(Unknown Source)
  at org.apache.commons.httpclient.protocol.DefaultProtocolSocketFactory.createSocket(DefaultProtocolSocketFactory.java:80)
  at org.apache.commons.httpclient.protocol.DefaultProtocolSocketFactory.createSocket(DefaultProtocolSocketFactory.java:122)
  at org.apache.commons.httpclient.HttpConnection.open(HttpConnection.java:707)
  at com.eviware.soapui.impl.wsdl.support.http.SoapUIMultiThreadedHttpConnectionManager$HttpConnectionAdapter.open(SoapUIMultiThreadedHttpConnectionManager.java:1666)
  at org.apache.commons.httpclient.HttpMethodDirector.executeWithRetry(HttpMethodDirector.java:387)
  at org.apache.commons.httpclient.HttpMethodDirector.executeMethod(HttpMethodDirector.java:171)
  at org.apache.commons.httpclient.HttpClient.executeMethod(HttpClient.java:397)
  at com.eviware.soapui.impl.wsdl.submit.transports.http.HttpClientRequestTransport.sendRequest(HttpClientRequestTransport.java:170)
  at com.eviware.soapui.impl.wsdl.WsdlSubmit.run(WsdlSubmit.java:122)
  at java.util.concurrent.Executors$RunnableAdapter.call(Unknown Source)
  at java.util.concurrent.FutureTask$Sync.innerRun(Unknown Source)
  at java.util.concurrent.FutureTask.run(Unknown Source)
  at java.util.concurrent.ThreadPoolExecutor$Worker.runTask(Unknown Source)
  at java.util.concurrent.ThreadPoolExecutor$Worker.run(Unknown Source)
  at java.lang.Thread.run(Unknown Source)

Is there anything on the settings Server side hosting the WSDL or SOAP UI that I am missing? I am trying to use soapUI to test some webservices.

Thanks for your help.