Postmaster doesn´t start as a service.

I´m having trouble trying to install postmaster as a service under Cygwin on
WIndows 2K Pro.

IPC-Daemon is working perfecly, but I just can´t start postmaster as a
service.

These are the errors at application event log:

The description for Event ID ( 0 ) in Source ( postmaster ) could not be
found. The local computer may not have the necessary registry information
or message DLL files to display messages from a remote computer.It contains
the following insertion string(s): postmaster
: Win32 Process Id = 0x7AC : Cygwin Process Id = 0x7AC : starting service
`postmaster' failed: execv: 1, Operation not permited.

The description for Event ID ( 0 ) in Source ( postmaster ) could not be
found. The local computer may not have the necessary registry information
or message DLL files to display messages from a remote computer.It contains
the following insertion string(s): postmaster
: Win32 Process Id = 0x8BC : Cygwin Process Id = 0x8BC : starting service `
' failed: redirect_fd: open (1, /var/log/postmaster.log): 13, Permission
denied.

I´m following the postgresql-7.2.3.README file.
If there is a particular doc I should read, please let me know where I can
get it.

Thanks for any help.