Your image library does not seem to have TrueType font support

I'm having an interesting problem with captcha and it's TrueType font support. I have a Fedora Core 3 machine with apache httpd 2.0.52, php 4.3.10, compiled with the following options:

--with-freetype-dir=/usr
--with-gd=shared,/usr
--enable-gd-native-ttf

However, the captcha module always says "Your image library does not seem to have TrueType font support". To me, it seems as the support is built in when I compile PHP. Now the big question is whether I used the right options to compile PHP to make captcha work, or possibly too many.

GD seems to be compiled correctly as I can use it in image.module and it works (although I use ImageMagick).

Where to go looking?