Makefile-win32 didn't run until you had run ./configure.
treea70f0f37d4aba0f90df12ca54b1d25bc9daa2f94
-rw-r--r-- 2098 Makefile
-rw-r--r-- 482 README.win32
-rwxr-xr-x 399 configure
-rwxr-xr-x 633 configure-mingw32
drwxr-xr-x - nitlog
drwxr-xr-x - planit
drwxr-xr-x - replytolist
drwxr-xr-x - retchmail
-rwxr-xr-x 1110 snapshot.sh
drwxr-xr-x - twc
drwxr-xr-x - unikonf
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drwxr-xr-x - zen