that is a bug, please file jira so we can address it.
tnx for pointing it out.
Prakash, you can try to create a C:\Program%20Files.lnk (windows shortcut) that points to C:\Program Files, though I'm not sure this will work. The other option would be to change your JBoss instalation folder.
Where should be the shortcut?
I believe the created jira is a duplicate of https://issues.jboss.org/browse/JBWS-3532 . IOW, please try with the latest JBoss AS 7.2.0.Alpha1-SNAPSHOT, which currently has JBossWS 4.1.0.Beta2, which in turn contains the fix for JBWS-3532.
Put it directly in C:\