Rebuild Master on SQL2005 Getting error

[Database Administrator]

In trying to rebuild master for SQL Instance UPGRADE using command:

start /wait setup.exe INSTANCENAME=UPGRADE REINSTALL=SQL_Engine
REBUILDDATABASE=1 SAPWD=pass

I get following error:

Microsoft office 2003 Web Components Setup
error 2711 an internal error has occurred SQL_Engine

Have seen other posting but no solution. I would like to avoid a reinstall
of binaries if all possible.