Thanks for your bugreport.
Could you please attach this file
/var/lib/apt/lists/security.ubuntu.com_ubuntu_dists_jaunty-security_restricted_binary-i386_Packages
and remove it afterward from your system? Does that fix the issue?
** Changed in: update-manager (Ubuntu)
Status: New => Incomplete
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Could not initialize package information
https://bugs.launchpad.net/bugs/428602
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