ruleset not being executed

[Payal]

Hi all,
I have a simple makefile like this.

$ cat Makefile 
.PHONY: one two 

obj = foo.c bar.c car.c

one:
        @echo obj = $(obj)
        @echo new = $(subst foo, FOO, $(obj))
        @echo

two:
        @echo obj = $(obj)
        @echo new = $(patsubst %.c, %.o, $(obj))
        @echo
$ make
obj = foo.c bar.c car.c
new = FOO.c bar.c car.c



Why is ruleset "two" not executed?

With warm regards,
-Payal
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