Define Name problem using INDIRECT with ROW()

Is there a reason why this simple Defined Name

=INDIRECT("I"&ROW())="12/31/04"

returns #VALUE! even though a Cell formula correctly returns TRUE (I6 = "12/31/04")?

BTW, this Defined Name correctly resolves

=INDIRECT("I6")="12/31/04"

Why is a Defined Name failing on ROW() used with INDIRECT ?