diff --git a/gas/ChangeLog b/gas/ChangeLog
index f9a03e2f89..6f5b600418 100644
--- a/gas/ChangeLog
+++ b/gas/ChangeLog
@@ -1,5 +1,9 @@
 2001-05-25  Alan Modra  <amodra@one.net.au>
 
+	From 2.11 branch 2001-03-30  Richard Henderson  <rth@redhat.com>
+	* config/tc-i386.c (md_convert_frag): Don't die on local symbols
+	that have been finalized.
+
 	* symbols.c (resolve_symbol_value): Clear sy_resolving before
 	taking exit_dont_set_value.
 
diff --git a/gas/config/tc-i386.c b/gas/config/tc-i386.c
index a710532500..2a13bd9329 100644
--- a/gas/config/tc-i386.c
+++ b/gas/config/tc-i386.c
@@ -4049,7 +4049,12 @@ md_convert_frag (abfd, sec, fragP)
   target_address = S_GET_VALUE (fragP->fr_symbol) + fragP->fr_offset;
 #ifdef BFD_ASSEMBLER
   /* Not needed otherwise?  */
-  target_address += symbol_get_frag (fragP->fr_symbol)->fr_address;
+  {
+    /* Local symbols which have already been resolved have a NULL frag.  */
+    fragS *sym_frag = symbol_get_frag (fragP->fr_symbol);
+    if (sym_frag)
+      target_address += sym_frag->fr_address;
+  }
 #endif
 
   /* Address opcode resides at in file space.  */