Build libpq on Win7 failed with error "U1045: spawn failed"

Hello!
I try build postgresql-9.3.5 on Windows7 x64 with VisualStudioExpess2013.

c:\postgresql-9.3.5\src>nmake -f win32.mak CPU=AMD64

Microsoft (R) Program Maintenance Utility Version 12.00.21005.1
Copyright (C) Microsoft Corporation.  All rights reserved.

         cd include
         if not exist pg_config.h copy pg_config.h.win32 pg_config.h
NMAKE : fatal error U1045: spawn failed : Invalid argument
Stop.

Use error code I found http://support.microsoft.com/kb/276593 , but
ComSpec is correct.

c:\postgresql-9.3.5\src>set
ALLUSERSPROFILE=C:\ProgramData
APPDATA=C:\Users\user\AppData\Roaming
CommonProgramFiles=C:\Program Files\Common Files
CommonProgramFiles(x86)=C:\Program Files (x86)\Common Files
CommonProgramW6432=C:\Program Files\Common Files
COMPUTERNAME=VIRTUAL
ComSpec=C:\Windows\system32\cmd.exe;
FP_NO_HOST_CHECK=NO
HOMEDRIVE=C:
HOMEPATH=\Users\user
LOCALAPPDATA=C:\Users\user\AppData\Local
LOGONSERVER=\\VIRTUAL
NUMBER_OF_PROCESSORS=2
OS=Windows_NT
Path=C:\Windows\system32;C:\Windows;C:\Windows\System32\Wbem;C:\Windows\System32
\WindowsPowerShell\v1.0\;C:\Program Files\Microsoft SQL
Server\110\Tools\Binn\;C
:\Program Files (x86)\Microsoft Visual Studio 12.0\VC\bin
PATHEXT=.COM;.EXE;.BAT;.CMD;.VBS;.VBE;.JS;.JSE;.WSF;.WSH;.MSC
PROCESSOR_ARCHITECTURE=AMD64
PROCESSOR_IDENTIFIER=AMD64 Family 16 Model 4 Stepping 3, AuthenticAMD
PROCESSOR_LEVEL=16
PROCESSOR_REVISION=0403
ProgramData=C:\ProgramData
ProgramFiles=C:\Program Files
ProgramFiles(x86)=C:\Program Files (x86)
ProgramW6432=C:\Program Files
PROMPT=$P$G
PSModulePath=C:\Windows\system32\WindowsPowerShell\v1.0\Modules\
PUBLIC=C:\Users\Public
SESSIONNAME=Console
SystemDrive=C:
SystemRoot=C:\Windows
TEMP=C:\Users\user\AppData\Local\Temp
TMP=C:\Users\user\AppData\Local\Temp
USERDOMAIN=virtual
USERNAME=user
USERPROFILE=C:\Users\user
windir=C:\Windows
windows_tracing_flags=3
windows_tracing_logfile=C:\BVTBin\Tests\installpackage\csilogfile.log

Can you help me solve this problem?
Thank you and excuse me for my bad english.
--
Best regards,
Brilliantov Kirill Vladimirovich