Terminal ignoring .profile when loading new shell

I have this in my .profile:
<pre>export PATH="/usr/local/bin:/usr/local/sbin:/usr/local/mysql/bin:$PATH"</pre>

I have Terminal set to open the default login shell.

This is what happens:
<pre>cmykG5:~ cmyk$ echo $PATH
/bin:/sbin:/usr/bin:/usr/sbin:/usr/local/teTeX/bin/powerpc-apple-darwin-current: /usr/local/mysql/bin:/usr/local/sbin</pre>

And, mind you, this is after I have set the .profile, have quit Terminal and reopened it.
So, it should respect the new Paths I added.

And if I do load the .profile manually:
<pre>cmykG5:~ cmyk$ . .profile
cmykG5:~ cmyk$ echo $PATH
/usr/local/bin:/usr/local/sbin:/usr/local/mysql/bin:/bin:/sbin:/usr/bin:/usr/sbi n:/usr/local/teTeX/bin/powerpc-apple-darwin-current:/usr/local/mysql/bin:/usr/lo cal/sbin</pre>

What's going on?

Message was edited by: Philipp Ringli