I had the same problem but i solved it by realizing that i had incorrectly typed the parameters to the make command
specifically i was missing the following:
--libexecdir=/tools/lib
--with-local-prefix=/tools
also make sure that you type your parameter with a space and then the slash. Thus:
../gcc-3.4.3/configure \
--prefix=/tools \
--libexecdir=/tools/lib \
--with-local-prefix=/tools \
--enable-clocale=gnu \
--enable-shared \
--enable-threads=posix \
--enable-__cxa_atexit \
--enable-languages=c,c++ \
--disable-libstdcxx-pch
Worked for me. Feel free to copy paste