Possible bug in RHN proxy

I believe I have found a bug with using authenticated proxies with complex passwords.

If the password is fairly simple; as defined in /etc/sysconfig/rhn/up2date;

proxyPassword="A$1mpl3pAssw0rd"

it works fine. However if my password is as follows I get errors;

proxyPassword="A c0mpl3X p@$!w0rd"

Anyone else experience this?