KeyError exception while trying to execute sql query

Binary package hint: python-mysqldb

I have encountered a serious problem with the 64bit version of python-mysqldb coming with feisty (version 1.2.1).
I cannot execute even a simple SQL query (using pyformat placeholders).

import MySQLdb
>>> MySQLdb.__version__
'1.2.1_p2'
>>> c = MySQLdb.connect("localhost", "root", "", "mydatabase")
>>> c.cursor().execute("SELECT * FROM table_name WHERE table_name.id = %(id)s", {'id':1})

This results in a python execption:
Exceptions.KeyError: 'id'

The same code works on the 32bit version and on other 64bit linux distros with the same version of python-mysqldb. It seems also to be already fixed in the gutsy package, which provides version 1.2.2.