diff --git a/gdb/ChangeLog b/gdb/ChangeLog
index 042ef77aac..9154dc020f 100644
--- a/gdb/ChangeLog
+++ b/gdb/ChangeLog
@@ -1,3 +1,7 @@
+2012-01-04  Tom Tromey  <tromey@redhat.com>
+
+	* python/py-value.c (valpy_binop): Initialize 'res_val'.
+
 2012-01-04  Joel Brobecker  <brobecker@adacore.com>
 
 	* corefile.c (close_exec_file): Delete.
diff --git a/gdb/python/py-value.c b/gdb/python/py-value.c
index 66e65c4b48..760360e3c3 100644
--- a/gdb/python/py-value.c
+++ b/gdb/python/py-value.c
@@ -725,7 +725,7 @@ valpy_binop (enum valpy_opcode opcode, PyObject *self, PyObject *other)
     {
       struct value *arg1, *arg2;
       struct cleanup *cleanup = make_cleanup_value_free_to_mark (value_mark ());
-      struct value *res_val;
+      struct value *res_val = NULL;
 
       /* If the gdb.Value object is the second operand, then it will be passed
 	 to us as the OTHER argument, and SELF will be an entirely different