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core/components/phpthumbof/model/phpthumbof/phpthumbof.class.php

line 118:   public $config_imagemagick_path  = null;

istead of null, use '/usr/bin/convert'

Problem is still in 2.2.8 but the old fix doesn't work anymore. config_imagemagick_path is'nt there anymore.

2do write a bug report and find a fix for this anying problem.

Might be related to php 5.3 and fastcgi.