Kernel panic after yum update

[blckbrd]

Hi,

I have a problem.

I installed FC3 on a Dell Optiplex GX 280 and everything works
correcly. Now I use yum to update all packages (including the latest
kernel). After updating I reboot and let grub select the newest
kernel.

After it starts I get the next error:

mkrootdev :label /1 not found
mount: error 2 mounting ext3
mount error 2 mounting none
switchroot : mount failed: 22
umount /initrd/devfailed : 2
kernel panic - notsysncing: attempted to kill init.

I need to use the power down button to shutdown the computer.

I tried kernel Fedora Core (2.6.10-1.741-FC3smp) and Fedora Core
(2.6.10-1.760_FC3smp) but both kernels gives the above errors.

When I use the pre-installed kernel (out of the box) Fedora Core
(2.69-1.667smp) kernel everything works alright.

I googled but I can't find anything to solve this problem.

Can anybody help?