Premiere Not Interpreting Alpha Transparency ProRes 4444

Hello,

I've imported a graphic, ProRes 4444 with an alpha channel but Premiere 6.0.2 is not reading the transparency.  When I lay it on top of another clip the transparent part shows as black rather than being transparent and showing the layer underneath.  It seems like the same error is happening in After Effects.

Final Cut 7 reads the transparency fine.  I read that the same problem was happening on earlier versions of Premiere and After Effects. 

I'm working with a Mac Pro, NVIDIA Quadro 4000, Lion.  

Any suggestions?

Thanks!

Gerry