initdb - (InitPostgres) - FATAL: database "postgres" does not exist

hi,

I am having trying to install Postgres 7.4.5, I have gmake 3.76.1 installed.

I have completed following steps:

    ./configure --prefix=/opt/local --enable-multibyte --enable-unicode
--with-java --without-readline
    make
    su rootr
    make install
    adduser postgres
    mkdir /opt/local/pgsql
    mkdir /opt/local/pgsql/data
    chown postgres /opt/local/pgsql
    chown postgres /opt/local/pgsql/data
    su - postgres
    /opt/local/bin/initdb -D /opt/local/pgsql/data


Note in the initdb script I altered the call to postgres to turn on debug:
==========================================================================
/opt/local/bin/postgres -d 5 -F -D/opt/local/pgsql/data -O -c
search_path=pg_catalog -c exit_on_error=true


Here is output from initdb with above change:
=========================================================================
$ ./initdb -D /opt/local/pgsql/data
The files belonging to this database system will be owned by user "postgres".
This user must also own the server process.

The database cluster will be initialized with locale C.

creating directory /opt/local/pgsql/data... ok
creating directory /opt/local/pgsql/data/base... ok
creating directory /opt/local/pgsql/data/global... ok
creating directory /opt/local/pgsql/data/pg_xlog... ok
creating directory /opt/local/pgsql/data/pg_clog... ok
selecting default max_connections... 100
selecting default shared_buffers... 1000
creating configuration files... ok
creating template1 database in /opt/local/pgsql/data/base/1... ok
initializing pg_shadow... ok
enabling unlimited row size for system tables... ok
initializing pg_depend... ok
creating system views... ok
loading pg_description... ok
creating conversions... ok
setting privileges on built-in objects... ok
creating information schema... ok
vacuuming database template1...

DEBUG:  found "/opt/local/bin/postgres" using argv[0]
DEBUG:  invoking IpcMemoryCreate(size=10461184)
LOG:  database system was shut down at 2004-09-01 08:12:34 EDT
LOG:  checkpoint record is at 0/6253E8
LOG:  redo record is at 0/6253E8; undo record is at 0/0; shutdown TRUE
LOG:  next transaction ID: 462; next OID: 17141
LOG:  database system is ready
DEBUG:  InitPostgres
FATAL:  database "postgres" does not exist       <=== FAILURE POINT!!!
DEBUG:  proc_exit(1)
DEBUG:  shmem_exit(1)
LOG:  shutting down
LOG:  database system is shut down
DEBUG:  exit(1)
==========================================================================

Any hints on why InitPostgres is not finding database "postgres"?

thanks,
Seamus

Solaris 9
=========
$ env
HOME=/export/home/postgres
HZ=
LOGNAME=postgres
PATH=/usr/bin:
SHELL=/bin/sh
TERM=xterm
TZ=Canada/Easter