error en initdb

Create a database with "initdb" in windows XP Prof. under "postgres" user.
    Postgres
    Ver: 8.1
    Installer: postgresql-8.1.msi  - postgresql-8.1-int.msi


    C:\PostgreSQL>initdb -D c:/PostgreSQL/data
    The files belonging to this database system will be owned by user "postgres".
    This user must also own the server process.

    The database cluster will be initialized with locale Spanish_Chile.1252.

    fixing permissions on existing directory c:/PostgreSQL/data ... ok
    creating directory c:/PostgreSQL/data/global ... ok
    creating directory c:/PostgreSQL/data/pg_xlog ... ok
    creating directory c:/PostgreSQL/data/pg_xlog/archive_status ... ok
    creating directory c:/PostgreSQL/data/pg_clog ... ok
    creating directory c:/PostgreSQL/data/pg_subtrans ... ok
    creating directory c:/PostgreSQL/data/pg_twophase ... ok
    creating directory c:/PostgreSQL/data/pg_multixact/members ... ok
    creating   directory c:/PostgreSQL/data/pg_multixact/offsets ... ok
    creating directory c:/PostgreSQL/data/base ... ok
    creating directory c:/PostgreSQL/data/base/1 ... ok
    creating directory c:/PostgreSQL/data/pg_tblspc ... ok
    selecting default max_connections ... 10
    selecting default shared_buffers ... 50
    creating configuration files ... ok
    creating template1 database in c:/PostgreSQL/data/base/1 ... initdb: could not e
    xecute command ""C:/postgresql/8.1/bin/postgres.exe" -boot -x1 -F  template1": I
    nvalid argument
    initdb: removing contents of data directory "c:/PostgreSQL/data"
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