Relative paths syntax error

I was searching to use relative paths with Blender VSE 2.48a under ubuntu 64bit 9.04.
An imported file to the timeline is named for instance //fotofoto345.png. The file is 'foto345.png and is in the folder ‘foto’. The .blend file is one level higher than the folder ‘foto’ in the tree structure. I would expect /foto/foto345.png instead of //fotofoto345.png . It is only a syntax issue. I can normally work with the imported files.
Is this a bug ?

//foto/foto345.png maybe?!

The slash after foto is missing. It is the case in 2.49b as well. See attachment. ‘titleblue.png’ is a file in the folder ‘foto’.