dmc can't find masm386 in path when building druntime

[Andrej Mitrovic]

I don't know what it is with DMC, but it's unable to find masm386 in my path. 
Take a look:

D:\DMD\dmd2\src\druntime>dmc -c src\rt\minit.asm
masm386 -DM_I386=1 -D_WIN32 -Mx src\rt\minit.asm;

Can't run 'masm386', check PATH

But if I run it manually:
D:\DMD\dmd2\src\druntime>masm386 -DM_I386=1 -D_WIN32 -Mx src\rt\minit.asm

Then it works. So what's wrong with DMC? I've put masm386.exe in the bin folder 
of DMC, it's in the PATH..