Error while using ';make install'

Hi,
 
I have a query about installing libwww-5.3.1 over Linux.
After doing make install , I am getting the below error,
 
[rittu@vmlc01 w3c-libwww-5.3.1]$ make install
Making install in config
make[1]: Entering directory
`/homelinux/rittu/design/w3c-libwww-5.3.1/config'
make[2]: Entering directory
`/homelinux/rittu/design/w3c-libwww-5.3.1/config'
make[2]: Nothing to be done for `install-exec-am'.
make[2]: Nothing to be done for `install-data-am'.
make[2]: Leaving directory
`/homelinux/rittu/design/w3c-libwww-5.3.1/config'
make[1]: Leaving directory
`/homelinux/rittu/design/w3c-libwww-5.3.1/config'
Making install in modules
make[1]: Entering directory
`/homelinux/rittu/design/w3c-libwww-5.3.1/modules'
Making install in expat
make[2]: Entering directory
`/homelinux/rittu/design/w3c-libwww-5.3.1/modules/expat'
Making install in xmltok
make[3]: Entering directory
`/homelinux/rittu/design/w3c-libwww-5.3.1/modules/expat/xmltok'
make[4]: Entering directory
`/homelinux/rittu/design/w3c-libwww-5.3.1/modules/expat/xmltok'
/bin/sh ../../../config/mkinstalldirs /usr/local/lib
/bin/sh ../../../libtool  --mode=install /usr/bin/install -c
libxmltok.la /usr/local/lib/libxmltok.la
/usr/bin/install -c .libs/libxmltok.so.0.1.0
/usr/local/lib/libxmltok.so.0.1.0
/usr/bin/install: cannot create regular file
`/usr/local/lib/libxmltok.so.0.1.0': Permission denied
make[4]: *** [install-libLTLIBRARIES] Error 1
make[4]: Leaving directory
`/homelinux/rittu/design/w3c-libwww-5.3.1/modules/expat/xmltok'
make[3]: *** [install-am] Error 2
make[3]: Leaving directory
`/homelinux/rittu/design/w3c-libwww-5.3.1/modules/expat/xmltok'
make[2]: *** [install-recursive] Error 1
make[2]: Leaving directory
`/homelinux/rittu/design/w3c-libwww-5.3.1/modules/expat'
make[1]: *** [install-recursive] Error 1
make[1]: Leaving directory
`/homelinux/rittu/design/w3c-libwww-5.3.1/modules'
make: *** [install-recursive] Error 1
 
Please help me in this,
 
Rittu