deployer/src /
              -> build.py
             old /
                 -> __init__.py (empty)
                 -> Test.py

CODE FOR build.py

print sys.path
import old.Test


OUTPUT

['/home/nick/code/python/deployer/src', '/usr/lib/portage/pym', '/usr/lib/python24.zip', '/usr/lib/python2.4', '/usr/lib/python2.4/plat-linux2', '/usr/lib/python2.4/lib-tk', '/usr/lib/python2.4/lib-dynload', '/usr/lib/python2.4/site-packages', '/usr/lib/python2.4/site-packages/Numeric', '/usr/lib/python2.4/site-packages/gtk-2.0']
Traceback (most recent call last):
  File "BuildConfigureDeployPostgres.py", line 5, in ?
    import old.Test
ImportError: No module named old.Test