Printbrm.exe will not finish printer backup

I have a windows 2008 standard sp2 print server and I am trying to generate a printer backup file using Printbrm.exe. The program consistently fails after backing up the print drivers with the following error:

The following error occurred: 0x80070002.
The system cannot find the file specified.

Using Processmon, and the event logs reveals no helpful information.

Please Help