Smartlist install problem on newer version of RH

I have 2 linux servers:

OLD OS: RedHat GNU/Linux 2.4.21-58.ELsmp (i686/i386), A NewTech
machine
NEW OS: RedHat GNU/Linux 2.6.18-128.1.16.el5 (x86_64/x86_64), A Dell
machine

I installed a SmartList package on the old server, it worked
perfectly fine. But on the new server, when I do:

> sh install.sh /usr/local/slist

- this generates endlessly the following line:
"install.sh3: line 3: cd: .: Not a directory"
that took 99% of one CPU and eventually I had to kill it.

Anything occur to you that I may need to look into?