Here is the answer from Trolltech support on this problem
You can fix this quite easily by altering your environment to point to the relevant Qt version. When running from the Qt command shell, you should have one set in the environment. How have you currently set this up, and are you invoking qmake from any of the Qt command shells?
Please add
C:\Program Files\Microsoft Visual Studio 8\VC\bin\
to your PATH environment variable if you're not using one of the Qt command shells from the installed Qt start menu entry.
I can add that adding to PATH this dir reaaly helps so the issue is solved
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