Index: django/core/management/__init__.py
===================================================================
--- django/core/management/__init__.py	(revision 9627)
+++ django/core/management/__init__.py	(working copy)
@@ -312,6 +312,9 @@
         project_directory = os.getcwd()
     project_name = os.path.basename(project_directory)
     settings_name = os.path.splitext(settings_filename)[0]
+    # Strip $py for Jython compiled files (like settings$py.class)
+    if settings_name.endswith("$py"):
+        settings_name = settings_name[:-3]
     sys.path.append(os.path.join(project_directory, os.pardir))
     project_module = __import__(project_name, {}, {}, [''])
     sys.path.pop()