Compiler Error - postgress make on mingw for win32

Hi,
While compiling the postgres 8.1x on mingw tool,
getting following error. Does anyone have any clue
what is going on here? Does it requires to fix
makefile? If so which make file and what exactly is
the change required?
Following is the error I am getting.

dlltool --dllname postgres.exe --def postgres.def
--output-lib libpostgres.a
C:\msys\1.0\mingw\bin\dlltool.exe: CreateProcess
make[2]: *** [libpostgres.a] Error 1
make[2]: *** Deleting file `libpostgres.a'
make[2]: Leaving directory `/postgresql/src/backend'
make[1]: *** [all] Error 2
make[1]: Leaving directory `/postgresql/src'
make: *** [all] Error 2

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