[Python] Exception Value:failed to find libmagic. Check your installation in windows 7

When I am trying to open django admin panel this error is showing:

ImportError at /admin/
failed to find libmagic. Check your installation
Request Method: GET
Request URL: Django Version: 1.5.1
Exception Type: ImportError
Exception Value: failed to find libmagic. Check your installation
Exception Location: C:\Python27\lib\site-packages\magic.py in <module>, line 131
Python Executable: C:\Python27\python.exe
Python Version: 2.7.2
Python Path:
['C:\\Users\\farhan\\Downloads\\dist\\Django-1.5.1\\django\\bin\\mysite',
'C:\\Python27\\lib\\site-packages\\distribute-0.6.49-py2.7.egg',
'C:\\Windows\\system32\\python27.zip',
'C:\\Python27\\DLLs',
'C:\\Python27\\lib',
'C:\\Python27\\lib\\plat-win',
'C:\\Python27\\lib\\lib-tk',
'C:\\Python27',
'C:\\Python27\\lib\\site-packages',
'C:\\Python27\\lib\\site-packages\\setuptools-0.6c11-py2.7.egg-info']
Server time: Thu, 22 Aug 2013 13:19:01 +0600


Here is my traceback

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