chroot_bug_??

Hello,

I'm running Linux Kernel 2.4.18-2 and the bash.
F.i. #md /usr/local/test . Then a chroot /usr/local/test (as root)
merely reports the error Cannot execute /bin/bash no such file
or directory, though "/bin/bash" is correctly located. Chroot reads the
correct SHELL environment entry.
"chroot /" works but this makes no sense at all, i think.
I don't think that there is necessarily a bug with chroot,
but i'm also wondering what's going wrong.

Thanks

Klaus-P Straube