SqlClient connection to SQL 2005 creates 5000 tcp connections!

Hello

Connecting to SQL 2005 Developer Edition with .NET 1.1 SqlClient

If I attempt to connect using TCP/IP all is well

but if I try and use shared memory (Server='.' and remove
Net='dbmssocn')

cpu usage goes to 100% for about 30 seconds

netstat -an

produces a list of exactly 5000 failed tcp connection attempts to port
1433

Has anyone else experience this bizarre behaviour ?

John