IIS7 URL Rewrite WordPress Permalink Works for subpages but NOT for first level pages

Question

I have a very strange issue that I have never experienced before.

WordPress 3.2 installed and running on Windows 2008 IIS 7 server, with URL Rewrite installed.

Once I enabled the Permalink in WordPress (I choose common one: /%year%/%monthnum%/%day%/%postname%/ ), the subpages' permalink works fine, but not the first level pages.

Examples:

http://www.cleancredit.com.au:4444/affiliate-centre/leading-technology/ - works http://www.cleancredit.com.au:4444/affiliate-centre -- doesn't work

If helps, I have Yoast SEO plugin with its sitemap_index.xml works: /sitemap_index.xml

Try change theme, activate/deactivate plugins - doesn't help.

This is the rewrite rules in web.config:

<rules>
<rule name="wordpress" patternSyntax="Wildcard">
    <match url="*"/>
        <conditions>
        <add input="{REQUEST_FILENAME}" matchType="IsFile" negate="true"/>
        <add input="{REQUEST_FILENAME}" matchType="IsDirectory" negate="true"/>
        </conditions>
    <action type="Rewrite" url="index.php"/>
</rule>
</rules>

Thanks, tim

Update 1:

If I put /index.php/%year%/%monthnum%/%day%/%postname%/ in WordPress, and all pages will work, but there will be index.php in the URL.