load needed DLLs for kernel

Hello,

I have successfully build an image in EWF RAM Reg mode that runs from CF
without problems as long as the CF is the only disk attached as primary
master. But when I connect a hard disk additionally, I get the following
error message after the boot.ini menu:

Windows could not start because of an error in the software.
Please report this problem as:
load needed DLLs for kernel.
Please contact your support person to report this problem.

I have tried to set CF as master with HD as slave and set Bios to boot from
HDD-0 and also tried HD as master with CF as slave and set Bios to boot from
HDD-1. Also it doesn't matter whether the HD is partitioned and formatted or
a fresh new one without any partition.

What am I doing wrong? Which DLLs are missing?
Best regards,
Klaus