MyEclipse Blue – Add deployment error – NullPointerException

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Environment:
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* MyEclipse Blue 7.5 (demo license)
* Windows XP
* A WebSphere server is created in MyEclipse Blue

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Recreate the Error:
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1- Create a Web project.
2 – Change the context root for the web project so that it has an extra slash. (e.g. “/foo/bar”)
To change the context root, go to Properties -> MyEclipse -> Web -> Web context root
3 – Add a deployment to the WebSphere server. Select the web project that has a context root like “/foo/bar”.
You will notice that the “Deploy location” will be assigned a value of “INVALID”.
Click “Finish”.
An error dialog will be displayed:
An internal error occurred during: “Add Deployment”.
java.lang.NullPointerException