BUG #4267: initdb fails

The following bug has been logged online:

Bug reference: 4267
Logged by:
Email address: sw(at)mail(dot)ru
PostgreSQL version: 8.3
Operating system: Windows XP SP3
Description: initdb fails
Details:

Hello,
initdb fails when I tried to initialize the cluster (the same error with
using installer and manual install):

C:\Program Files\PostgreSQl\8.3\bin>initdb -D "C:\Program
Files\PostgreSQL\8.3\data" -E UTF-8 --no-locale
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 C.
The default text search configuration will be set to "english".

fixing permissions on existing directory C:/Program
Files/PostgreSQL/8.3/data ... ok
creating subdirectories ... initdb: could not create directory "C:/Program
Files/PostgreSQL": File exists
initdb: removing contents of data directory "C:/Program
Files/PostgreSQL/8.3/data"

C:\Program Files\PostgreSQl\8.3\bin>

Of course initdb runs from unprivileged "postgres" user and I tried short
path names.

Thank you!