I have version 3.1.9 of bjam installed as mentioned in my first post.. Unfortunately the problem was solved by downloading an older version of bjam

On Tue, Aug 4, 2009 at 7:56 PM, Vladimir Prus <ghost@cs.msu.su> wrote:
On Tuesday 04 August 2009 Manzoor Ahmed wrote:

> Hey I both tried the pre-built version of bjam and build my own but still Im
> unable to build boost.
>
> Im executing the following command line
>
> *bjam --show-libraries*
>
> And I get the following error
>
> *error: Boost.Jam version 3.1.12 or later required
>
> *when I enter this command to determine my bjam version as:
>
> *bjam -v
>
> *I get the following output
>
> *Boost.Jam    Version 3.1.9.    OS=NT
> ( some more copyright lines here)

So, you indeed have too old version of Boost.Jam.

> *
> Im using boost 1.39.0

Then, you should be using:

       bootstrap.bat
   .\bjam.exe

procedure to build bjam from the sources shipped with 1.39 and use
it.

- Volodya
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--
Manzoor Ahmed