SCVMM console error "could not update managed code add-in pipeline due to the following error"

Hi,

Newly installed SCVMM 2012 SP1, vmm server and console on same Win 2012 server..  When I log into the console I get the error

"could not update managed code add-in pipeline due to the following error:

Access to the path 'e:\program files\Microsoft System Center 2012\Virtual Machine Manager\Bin\AddInPipeline\PipelineSegments.store' is denied"

Anyone else seen this?  Solutions?

Thanks

Martin