diff --git a/bfd/ChangeLog b/bfd/ChangeLog
index 3d6d1f3c0d..e8f9f72feb 100644
--- a/bfd/ChangeLog
+++ b/bfd/ChangeLog
@@ -1,5 +1,8 @@
 Tue Sep  5 19:35:28 1995  Ian Lance Taylor  <ian@cygnus.com>
 
+	* aclocal.m4: Don't try to grep ../Makefile if it doesn't exist.
+	* configure: Rebuild.
+
 	* coff-sparc.c (CALC_ADDEND): Don't set the addend to the value of
 	a global symbol.
 
diff --git a/bfd/aclocal.m4 b/bfd/aclocal.m4
index dabc963f4d..f08dd35129 100644
--- a/bfd/aclocal.m4
+++ b/bfd/aclocal.m4
@@ -14,7 +14,7 @@ dnl The ugly bit...
 dnl
 AC_MSG_CHECKING([for CC])
 dnl Don't bother with cache.
-test -z "$CC" && CC=`egrep '^CC *=' ../Makefile | tail -1 | sed 's/^CC *= *//'`
+test -z "$CC" && test -r ../Makefile && CC=`egrep '^CC *=' ../Makefile | tail -1 | sed 's/^CC *= *//'`
 test -z "$CC" && CC=cc
 AC_MSG_RESULT(setting CC to $CC)
 AC_SUBST(CC)
diff --git a/bfd/configure b/bfd/configure
index ca119e09ab..ac19834ddd 100755
--- a/bfd/configure
+++ b/bfd/configure
@@ -562,7 +562,7 @@ HDEFINES=
 . ${srcdir}/configure.host
 
 echo $ac_n "checking for CC""... $ac_c" 1>&6
-test -z "$CC" && CC=`egrep '^CC *=' ../Makefile | tail -1 | sed 's/^CC *= *//'`
+test -z "$CC" && test -r ../Makefile && CC=`egrep '^CC *=' ../Makefile | tail -1 | sed 's/^CC *= *//'`
 test -z "$CC" && CC=cc
 echo "$ac_t""setting CC to $CC" 1>&6