Hi, I recently had the same problem.

My solution can be found here: 
https://groups.google.com/forum/?fromgroups#!topic/sqlalchemy/LJ-A704CnJ0

On Monday, 25 June 2012 19:14:27 UTC+2, Guillaume Viger wrote:
>
> Hi,
>
> I am deploying my TurboGears application from a virtualenv on Fedora 16, 
> but when the sqlalchemy module is imported the following error is thrown: 
> AttributeError: 'module' object has no attribute 'exc'. The virtualenv 
> site-packages/ directory does contain a 
> SQLAlchemy-0.7.8-py2.7-linux-i686.egg file (although it is not a directory 
> like some other .egg entries). My application was installed via 'setup.py 
> install' with 'TurboGears2' and 'sqlalchemy' in the 'install_requires' 
> (among others). I think the problem is due to the installed sqlalchemy 
> site-package that is missing the exc.py file since it is not a directory - 
> but I am honestly unsure ;).
>
> How can I resolve this issue?
>
> Thanks,
>

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