Unable to Connect to Database, trhowing ORA-06413 Connection Not Open

I am unable to connect to Database. When I try to connect, plsql developer is throwing 'ORA-06413: Connection not open' message. I tried to set the oracle home under tools->Preferences. I set the oracle 10g home, it throw message saying that, the setup is effective from next session. I closed the session and re-opened the plsql developer. Still I am getting ORA-06413 error message. Interestingly the oracle home I set in previous session is empty. Empty home is found.
 
This is a known Oracle Net bug when an application is installed in a directory with parentheses. If all is well the installer did warn you about this. Reinstalling in a directory without parentheses will fix it.
 
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