This problem does not occur if you format the drive from within Windows Explorer.
The initial, incorrect size that Format reports is
drivesize - 64 GB. For example, if a partition or logical drive is 70.3 GB (75,484,122,112 bytes) in size, Format initially reports the drive as being 6.3 GB (6,764,579,840 bytes) in size.
For additional information about other issues with drives larger than 64 GB, click the article number below
to view the article in the Microsoft Knowledge Base:
263044 Fdisk Does Not Recognize Full Size of Hard Disks Larger than 64 GB