The following bug has been logged online:

Bug reference: 2304
Logged by: Alexander Pivovarov
Email address: apivovarov (AT) gmail (DOT) com
PostgreSQL version: 8.1.3
Operating system: FreeBSD 6.1
Description: Time zone bug: '05:04 GMT+3' processing as '05:04:00
-03'
Details:

# select '05:04 GMT+3'::time with time zone;
timetz
-------------
05:04:00-03
(1 row)

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