Ubuntu lucid does not boot after update to 2.6.32.33.

Hi all,

I am using ubuntu 10.04 x64, kernel 2.6.32.32. Yesterday I installed updates to 2.6.32.33 and rebooted the system today. Since then, the system is not booting up and is throwing the following message:

Alert /dev/disk/by-uuid/<disk_id_here> does not exist. Dropping to a shell!

BusyBox v1.13.3 (Ubuntu 1:1.13.3-1ubuntu11) built-in shell (ash)
Enter 'help' for a list of built-in commands.

(initramfs) _

Right now I am logged in to 2.6.32.32 (recovery) mode. Before this could boot up, I had selected 'Update grub bootloader' option. After that, I selected 'resume [ resume normal boot ]'. I got into a shell, logged in, and startx.

Can anyone please tell me what has happened and how can I get my system up & running fine again?

Many Thanks.