aspnet_compiler.exe [HttpCompileException]: External component has thrown an exception.

I was getting this error during the pre-compilation of website:
[HttpCompileException]: External component has thrown an exception.

the cause of the problem was incorrect references  in web.config.

Here's rebuild.bat file for precompilation website without opening Visual Studio 2008:

C:\WINDOWS\Microsoft.NET\Framework\v2.0.50727\aspnet_compiler.exe -v "/beta " -p "beta\\" -u -f -d -fixednames "PrecompiledWeb\beta\\" -errorstack  
sndrec32.exe /play /embedding c:\tools\saundz\phone_1.wav 
pause

compilation of about 500 classes taking about 15 min , sndrec32 string for notifying that build complete.