There is no virus by this name. However, we occasionally get queries about it, since the standard Microsoft Office installation put a macro named "PresentIt" to Word's macro list. This is a built-in application to move stuff from Word to Powerpoint, and is not a virus.
Allow F-Secure Anti-Virus to disinfect the relevant files.
For more general information on disinfection, please see Removal Instructions.
Description Created: Mikko Hypponen, F-Secure