ULINK flashing error

Good morning, I have a problem flashing program (example "Blinky" from Keil/ARM/Examples/ directory) into LPC2129 (on 12Mhz) via JTAG (ULINK) from uVision3 (WIN XP). Everything seems fine. When I click DOWNLOAD, output windows says:

Load "c:\\Keil\\ARM\\Examples\\Blinky\\Obj\\Blinky.ELF"
Erase Done.
Programming Done.
Verify OK.

But when I want to run blinking program in emulator, nothing happens (no blinking). After clicking halt and reset, disassembly window shows:

   134: Vectors:        LDR     PC,Reset_Addr
>0x00000000  E59F201C  LDR       R2,[PC,#0x001C]
   135:                 LDR     PC,Undef_Addr
 0x00000004  E3A03000  MOV       R3,#Vectors(0x00000000)
   136:                 LDR     PC,SWI_Addr
 0x00000008  E1020093  SWP       R0,R3,[R2]
   137:                 LDR     PC,PAbt_Addr
 0x0000000C  E2822028  ADD       R2,R2,#SWI_Addr(0x00000028)
   138:                 LDR     PC,DAbt_Addr
 0x00000010  E1021093  SWP       R1,R3,[R2]
   139:                 NOP

And when I do one step i emulator, the cursor jumps to adress 0x04 instead of loading 0x1c into PC thus jumping to 0x1c. It seems to me that there is some mess in flash, but I don't have a clue why.

I didn't set up anything special in uVision (no memory mapping, no regimes or so), I just have chosen 'ULINK ARM Debugger' instead of 'Use simulator' in 'Flash/Configure Flash tools/Debug' tab.

Thank You very much, have a nice day. M. Fiala

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