Failed Install SQL Server SP3 CU2 MSP Error: 29537

I'm having problems installing the cummulative 2 Fixpack for SP3 on a SQL 2005 stand alone  server (32 bit, Win2003 server SP2). I keep getting the error:
 MSP Error: 29537
SQL Server Setup has encountered the following problem: [Microsoft][SQL Native Client][SQL Server]CREATE DATABASE failed. Some file names listed could not be created. Check related errors.. To continue, correct the problem, and then run SQL Server Setup again.

I'm not sure what the problem here is. In the protokoll there is also the message 'Transforming Table error -2147287038' and Error 1603.
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DSchatAuthor Commented:
Thanks RiteshShah for the unbelievable quick solution!
I set the default locations for the data & log files to the path where the master DB was and then the install completed!
Thanks again!
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