Simulink error: Unable to locate 'mexopts.bat'

Hi guys, Im working on a Simulink model that contains some embedded function blocks, but whenever I try running it, it always stops compiling & gives me the message:

Unable to locate 'mexopts.bat', and therefore cannot determine which compiler to use for simulation builds.
Use 'mex -setup' to select a supported compiler.

How do i fix this error? Im running Matlab R2010a, & have gone through all the steps of installing Visual C++ 2010 express, & patched it with the patch provided by Mathworks. Before running the Simulink block I've used Mex -Setup & selected the C++ 2010 compiler, I've even tried using a previous version (Visual C++ 2008 Express), but I still get the same error.

Can anyone shed some light on this situation? Any help at all is appreciated.

[Kaustubha Govind]

Could you please paste the complete response of "mex -setup".

[Auday]

I have the same error in my system