The WebSphere scripts assume that /bin/sh maps to bash. Edgy changed /bin/sh to dash. That’s really quite annoying. Getting WAS to install properly is simple. Run the regular install (creating a profile will fail).
sudo perl -p -i -e "s/\/sh$/\/bash/" /opt/IBM/WebSphere/AppServer/bin/*
Then launch the Profile Management tool.
Create the profile and you should be good to go.