Could not initialise deployment - No META-INF/application.xml found

08:40:03,727 INFO [Server] JBoss (MX MicroKernel) [4.3.0.GA_CP05 (build: SVNTag=JBPAPP_4_3_0_GA_CP05 date=200906222114)] Started in 9s:955ms
08:40:58,668 INFO [EARDeployer] Init J2EE application: file:/home/jpeterka/workspace/jbt/tc/dynweb/.metadata/.plugins/org.jboss.ide.eclipse.as.core/JBoss_EAP_4.3_Runtime_Server/deploy/DynWebEAR.ear/
08:40:58,668 ERROR [MainDeployer] Could not initialise deployment: file:/home/jpeterka/workspace/jbt/tc/dynweb/.metadata/.plugins/org.jboss.ide.eclipse.as.core/JBoss_EAP_4.3_Runtime_Server/deploy/DynWebEAR.ear/
org.jboss.deployment.DeploymentException: No META-INF/application.xml found
at org.jboss.deployment.EARDeployer.init(EARDeployer.java:146)
at org.jboss.deployment.MainDeployer.init(MainDeployer.java:872)
at org.jboss.deployment.MainDeployer.deploy(MainDeployer.java:809)

Steps to reproduce:
1. Create Dynamic Web Project with enabled "Add Project to an EAR" selection
2. Add EAR to JBoss EAP 4.3 AS
3. Start the server
Environment: Linux 32 and 64 bit, Open JDK 1.6

file:/home/jpeterka/workspace/jbt/tc/dynweb/.metadata/.plugins/org.jboss.ide.eclipse.as.core/JBoss_EAP_4.3_Runtime_Server/deploy/DynWebEAR.ear/
No META-INF/application.xml found

Manual check: application.xml really doesn't exist on the specified path

JIRAs with similar problem:
https://jira.jboss.org/jira/browse/JBIDE-1377
https://jira.jboss.org/jira/browse/JBAS-2443