It may have problem when u use old version of SDK. Try to use newer version of SDK:
PythonForSeries60_1_1_5_for_2ndEd_FP1_SDK.
There is a folder in this directory: Nokia\Tools\Python_for_Series_60\py2sis..........
Try to unzip Python_1_1_5_for_2ndEd_FP1_SDK.exe. The are two folders. One is called "InstallderData".
1. Find Resouce1 in this directory "InstallerData\Disk1\InstData\\Resource1.zip"
2. Unizip Resource1.zip
3. find py2sis.zip from
"Resource1\S_\cc\python\python_s60\src\sismaker\build\\py2sis.zip"
4. Unzip py2sis.zip and copy to this diretory "Nokia\Tools\Python_for_Series_60\"
Then u can use it.........Good luck