Matlab Continuously Crashes when Using Simulink

Whenever I open simulink and start working on a model Matlab displays the following error and crashes

    MATLAB crash file:C:\Users\FARRUK~1\AppData\Local\Temp\matlab_crash_dump.3352-1:

    ------------------------------------------------------------------------
              Access violation detected at Thu Sep 11 01:50:23 2014
    ------------------------------------------------------------------------

    Configuration:
      Crash Decoding     : Disabled
      Default Encoding   : windows-1252
      MATLAB Architecture: win32
      MATLAB Root        : C:\Program Files (x86)\MATLAB\R2014a
      MATLAB Version     : 8.3.0.532 (R2014a)
      Operating System   : Microsoft Windows 8.1 Pro with Media Center
      Processor ID       : x86 Family 6 Model 37 Stepping 2, GenuineIntel
      Virtual Machine    : Java 1.7.0_11-b21 with Oracle Corporation Java HotSpot(TM) Client VM mixed mode
      Window System      : Version 6.3 (Build 9600)

    Fault Count: 1

    Abnormal termination:
    Access violation

    Register State (from fault):
      EAX = 00000000  EBX = 00000000
      ECX = 33e66640  EDX = 6a76e250
      ESP = 2ad7cbf0  EBP = 33e66640
      ESI = 2ad7cc50  EDI = 00000000

      EIP = 6a76e253  EFL = 00010202

       CS = 00000023   DS = 0000002b   SS = 0000002b
       ES = 0000002b   FS = 00000053   GS = 0000002b

I tried it on both the 64 bit and 32 bit version but it keeps on crashing over and over again

[Thomas Gay]

I have precisely the same problem. As this issue effectively destroys models, I think a response from the Mathworks folks is warranted.