Install python package (pandas) fails on Windows 7 64bit

UPDATE 2014/11/11: New tool Microsoft Visual C++ Compiler for Python 2.7 available. Not tested yet, but seems to solve the problem....

Recently I was experiencing following problem when I've needed to install some python package. 

File "{%python%}\lib\distutils\msvc9compiler.py", line 299, in query_vcvarsall
raise ValueError(str(list(result.keys())))
ValueError: [u'path']

I've had installed VS 2008 Express edition already. After some investigation I've realized that VS2008 Express does not have support for x64. So I've had to made following few steps to make python package installer running smoothly:

1. Download corresponding iso image from Windows SDK for Windows 7 and .NET Framework 3.5 SP1 and install it
2. Locate vcvars64.bit in %INSTALL_FOLDER%Microsoft Visual Studio 9.0\VC\bin\
3. Copy vcvars64.bat to .\vcvarsamd64.bat
4. Copy vcvars64.bat to .\amd64\vcvarsamd64.bat

After these steps I was able to install required package successfully.