Actually it does not give any error but it does not update the recordset.
I have opened the recordset in the following way
Stmp = "Select * from tblBill where Project = " & Session("Project")
rs.Open Stmp, reConnApp, adOpenDynamic, adLockOptimistic
do while not rs.EOF
rs.fields("Project") = "**"
rsBillCyclesOld.Update
rsBillCyclesOld.MoveNext
loop

I have tried to put in the response.writes.
It goes into the loop but does not come to the response.write after the loop.