It should be lsass.exe the misspelling is an indication of malware trying to trick you into thinking it is a system file.

A google search fot it returns some hits relating to malware, this is just one, http://virusinfo.prevx.com/pxparall.asp?PXC=70f049984843. Also see http://forums.techguy.org/windows-nt-2000-xp/359561-lasse-exe-system-error.html.

As you can see it isn’t as simple as deleting the file, this infection is also an indication that your OS is out of date and needs an urgent visit to windows update.