keyblock resource: file open error

[Lee Seldon]

Hi
I do not understand the following error message:

D:\PROGRA~1\GnuPG>gpg
gpg: keyblock resource `"D:/Program Files/GnuPG"': file open error
gpg: keyblock resource `"D:/Program Files/GnuPG"': file open error
gpg: Go ahead and type your message ...
dlfkjs
^C
D:\PROGRA~1\GnuPG>

My system:
Win2000Pro
gpg 1.0.6-2 from gpg-w32-1.0.6-2.zip
installed in D:/Program Files/GnuPG
My registry has an entry \\HKEY_CURRENT_USER\Software\GNU\GnuPG\HomeDir
pointing to "D:/Program Files/GnuPG"
pubring.gpg and secring.gpg both exist in this directory, although both
have length 0 bytes.

I cannot find any reference to this error message in the FAQ, the User
Guide (manual.pdf) or the mini-HowTo files. 

thanks for any help
Lee