I do have "as.exe" in my N:/usr/i386-pc-os2-emx/bin directory! When I go to N:/usr/i386-pc-os2-emx/bin and run as.exe I get: SYS1804 The system cannot find the file BFD2E ------ (which IS in N:/usr/lib!)
Is n:/usr/lib in your libpath? Otherwise as.exe won't find the dll...
Cheers,
Paul