21.2-b30 NT native fails to build

After updating to the latest CVS, I can't build NT native anymore. The build gets as far as: ..\src\temacs.exe -batch -l ..\src\..\lisp\update-elc.el and then dies with the following: runtime error R6027 - not enough space for lowio initialization Has anyone else seen this? -lipp ps: I'm building with this command line: ＠nmake -nologo -f xemacs.mak %1 %2 %3 %4 %5 %6 \ INSTALL_DIR="d:/win32app/xemacs-21.2" \ MAKEINFO="d:\win32app\utils\makeinfo.exe" \ PACKAGE_PREFIX="d:/win32app/xemacs-21.2/lib/xemacs" \ HAVE_MSW=1 HAVE_X=0 HAVE_MULE=0 HAVE_MSW_C_DIRED=1 \ GUNG_HO=1 DEBUG_XEMACS=0 HAVE_XPM=1 \ XPM_DIR=d:/src/xemacs-beta/libdist/ilib HAVE_GIF=1 HAVE_JPEG=1 \ JPEG_DIR=d:/src/xemacs-beta/libdist/ilib HAVE_TIFF=1 \ TIFF_DIR=d:/src/xemacs-beta/libdist/ilib HAVE_PNG=1 \ PNG_DIR=d:/src/xemacs-beta/libdist/ilib \ ZLIB_DIR=d:/src/xemacs-beta/libdist/ilib