windows7, django-admin.py, system variables, no module named django.core

I am not able to run django under windows7

python django-admin.py #is recognized if i paste it to c:/first/
Python26 together with python executable.

I am getting error: No module named django.core
File "django-admin.py", line2, in <module>
from django.core import management

It seems the command line do not know about variables in the path:
Python django-admin.py #is not recognized if i use path variable
"C:/first/Python26/Lib/site-packages/django-1.2.1/django/bin"
It is recongmized as a command in if paste it to C:/first/Python26.

I added paths to System Path Variable:
C:/first/Python26
which contains copy af django-admin.py
C:/first/Python26/Scripts which
contains copy af django-admin.py
C:/first/Python26/Lib/site-packages/django-1.2.1/django/bin -
original django-admin.py

I run from command line cmd beeingin c:/first/Python26
python # command works

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