Django 1.5b1: executar o django-admin.py causa o erro “No module named settings”

Eu recentemente instalei o Django-1.5b1. Configuração do meu sistema:

OSX 10.8Python 2.7.1Virtualenv 1.7.2

Quando eu chamodjango-admin.py comando recebo o seguinte erro

(devel)ninja Django-1.5b1: django-admin.py 
Usage: django-admin.py subcommand [options] [args]

Options:
  -v VERBOSITY, --verbosity=VERBOSITY
                        Verbosity level; 0=minimal output, 1=normal output,
                        2=verbose output, 3=very verbose output
  --settings=SETTINGS   The Python path to a settings module, e.g.
                        "myproject.settings.main". If this isn't provided, the
                        DJANGO_SETTINGS_MODULE environment variable will be
                        used.
  --pythonpath=PYTHONPATH
                        A directory to add to the Python path, e.g.
                        "/home/djangoprojects/myproject".
  --traceback           Print traceback on exception
  --version             show program's version number and exit
  -h, --help            show this help message and exit
Traceback (most recent call last):
  File "/Users/sultan/.virtualenvs/devel/bin/django-admin.py", line 5, in <module>
    management.execute_from_command_line()
  File "/Users/sultan/.virtualenvs/devel/lib/python2.7/site-packages/django/core/management/__init__.py", line 452, in execute_from_command_line
    utility.execute()
  File "/Users/sultan/.virtualenvs/devel/lib/python2.7/site-packages/django/core/management/__init__.py", line 375, in execute
    sys.stdout.write(self.main_help_text() + '\n')
  File "/Users/sultan/.virtualenvs/devel/lib/python2.7/site-packages/django/core/management/__init__.py", line 241, in main_help_text
    for name, app in six.iteritems(get_commands()):
  File "/Users/sultan/.virtualenvs/devel/lib/python2.7/site-packages/django/core/management/__init__.py", line 108, in get_commands
    apps = settings.INSTALLED_APPS
  File "/Users/sultan/.virtualenvs/devel/lib/python2.7/site-packages/django/conf/__init__.py", line 52, in __getattr__
    self._setup(name)
  File "/Users/sultan/.virtualenvs/devel/lib/python2.7/site-packages/django/conf/__init__.py", line 47, in _setup
    self._wrapped = Settings(settings_module)
  File "/Users/sultan/.virtualenvs/devel/lib/python2.7/site-packages/django/conf/__init__.py", line 132, in __init__
    raise ImportError("Could not import settings '%s' (Is it on sys.path?): %s" % (self.SETTINGS_MODULE, e))
ImportError: Could not import settings 'settings' (Is it on sys.path?): No module named settings

Alguém teve os mesmos erros? Alguém pode aconselhar ou ajudar com isso?

Obrigado,

Sultão

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