FreeBSD SHMMAX

All,

I am trying to get Postgres running on FreeBSD and am running into problems
with shared mem. Here is the postgres error messge:

FATAL: could not create shared memory segment: Cannot allocate memory
DETAIL: Failed system call was shgmet(key=5432001, size=103407616, 03600).
HINT: This error usually means that PostgreSQL's request for a shared
memory segment exceeded available memory or swap space.
To reduce the request size (currently 103407616 bytes), reduce PostgreSQL's
shared_buffers parameter (currently 12288) and/or its max_connections
parameter (cureently 40).
The PostgreSQL documentation contains more information about shared memory
configuration.

Here is the output of sysctl (which shows there is more shared mem available
than postgres is asking for):

bash-2.05b$ sysctl -a | grep shm
kern.ipc.shmmax: 200000000
kern.ipc.shmmin: 1
kern.ipc.shmmni: 192
kern.ipc.shmseg: 128
kern.ipc.shmall: 8192
kern.ipc.shm_use_phys: 0

and finally the IPC stats which shows nothing being used:

Message Queues:
T ID KEY MODE OWNER GROUP

Shared Memory:
T ID KEY MODE OWNER GROUP

Semaphores:
T ID KEY MODE OWNER GROUP

Any ideas why postgres won't start?

Thanks.

Michael