This occurs in 1.4.2 and 1.5, but not in 1.4.1.
The testcase is
    PopStaticInitTest.java
in
   /net/jano.sfbay/export/disk20/serviceability/ws/regressionTestsInWaiting/


Here is the hs_err trace:
#
# An unexpected error has been detected by HotSpot Virtual Machine:
#
# Internal Error (4A564D544934485245414433544154450E43505000F2 01), pid=18624, tid=1
#
# Java VM: Java HotSpot(TM) Client VM (1.5.0-beta2-b43 mixed mode)

--------------- T H R E A D ---------------

Current thread (0x000379d8): JavaThread "main" [_thread_in_vm, id=1]

Stack: [0xffb7e000,0xffc00000), sp=0xffbfcfd0, free space=507k
Native frames: (J=compiled Java code, j=interpreted, Vv=VM code, C=native code)
V [libjvm.so+0x4242e0] ;; void VMError::report_and_die()+0x5b8
V [libjvm.so+0x27cf74] ;; void report_fatal(const char*,int,const char*)+0x2c
V [libjvm.so+0x380e14] ;; void JvmtiThreadState::process_pending_step_for_popframe()+0x54
V [libjvm.so+0x368ff4] ;; void JvmtiExport::at_single_stepping_point(JavaThread*,methodOopDesc*,unsigned char*)+0x10c
V [libjvm.so+0x2007d4] ;; void InterpreterRuntime::at_safepoint(JavaThread*)+0xcc
j PopStaticInitTarg.main([Ljava/lang/String;)V+12
v ~StubRoutines::call_stub
V [libjvm.so+0xd1e9c] ;; void JavaCalls::call_helper(JavaValue*,methodHandle*,JavaCallArguments*,Thread*)+0x550
V [libjvm.so+0x19e770] ;; jni_CallStaticVoidMethod+0x4b0
C [java+0x2a10] main+0x10f8