EDIT: I modified the question title after understanding the actual problem.
I tried to run the sample RSS reader from Codeplex. I tried it on CTP version of the Windows Phone Developer Tools and it worked ok on that.
But now after trying it on beta version of the tools, it gave me following error.
The type or namespace name 'Phone' does not exist in the namespace 'Microsoft'
(are you missing an assembly reference?)
Its not able to locate the assembly Microsoft.Phone.Controls
. Though I've installed beta tools successfully on my machine.
What could be the problem?