compiler dependency information on disk is corrupted: rebuild required?

I am using Intellij 7.0.3 and when I tried to compile my code I got the following error recursively


*"Information:Compiler dependency information on disk is corrupted. Rebuild required."*

A little dialog box pops up titled "Make" with some progress on the compilation. This dialog box keeps popping up over and over again. I have tried forcing IDEA to shut down and restarting but that doesn't seem to solve anything.

if somone could help me out I would greatly appreciate it.

Gaurav Goel