Try the pre-built (Redhat-7.0 or later, including Mandrake) toolchain from my site -- I updated it earlier this week for better distribution compatibility:

http://empeg-hijack.sourceforge.net/

Just untar it as root under / (it will end up under /usr/local/armtools-empeg/

and then pre-pend "/usr/local/armtools-empeg/bin" to your PATH before using make. This is exactly what I use to build the Hijack kernels I distribute.

export PATH="/usr/local/armtools-empeg/bin:$PATH"

Cheers.

-ml