I managed to fix my issue, here's how I did it. I added the AdobeRGB1998.icc colour profile and used it as the default monitor profile. To do this
1. Control Panel ---> Color Management
2. Click on the All Profiles Tab click Add
3. Browse to the folder that contains the color profile called AdobeRGB1998.icc and add it
4. On the devices tab select your monitor from the top drop down then click Add
5. In the list that appears there now should be the AdobeRGB1998.icc profile
6. Add this profile
7. This new profile should now appear in the list. Click on the profile and click Set As Default Profile, click close. I don't think I rebooted, but it would not hurt to do so
8. Colors now look good
If you do not have the profile on your machine you can download it from here:
http://www.antiquetimber.co.uk/AdobeRGB1998.icc
All the best, Mick