Comment 20 for bug 1217288

try to install system packaged python-pip (sudo apt-get install python-pip), i believe on precise it's new enough that pbr can use it.

If you already have pip, then try `pip install --upgrade setuptools`

Alternatively you might be able to `pip install -e .` instead of `python setup.py develop`

If none of these suit you try 'install' instead of 'develop'

I'm going to try and file a bug on pbr:

https://bugs.launchpad.net/pbr/+bug/1324784