Ultimate Boot CD

When I ran a virus check (Avast 4.7 Antivirus) it flagged a file DISCON.EXE in UBCD4Win\plugin\Network\Cisco\files as being infected.

A quick search on Google suggests that it is infected with a Trojan.

Is this a false positive, or is there a serious problem lurking?

The version of UBCD4Win on my machine is 3.1.10a

Your at the UBCD (DOS) forum.

You want www.ubcd4win.com/forum

And yes it's a false positive.

Also the version would be something like 4.11 - the 3.1.10a is the PE Builder that is used.