diff --git a/libgfortran/ChangeLog b/libgfortran/ChangeLog
index e82d44282d2..3e27ed952c0 100644
--- a/libgfortran/ChangeLog
+++ b/libgfortran/ChangeLog
@@ -1,3 +1,9 @@
+2012-01-11  Janne Blomqvist  <jb@gcc.gnu.org>
+            Mike Stump  <mikestump@comcast.net>
+	PR libfortran/51803
+	* runtime/main.c (store_exe_path): Handle getcwd failure and lack
+	of the function better.
+
 2012-01-10  Tobias Burnus  <burnus@net-b.de>
 
 	PR fortran/51197
diff --git a/libgfortran/runtime/main.c b/libgfortran/runtime/main.c
index 11b535afa92..1cad5eff725 100644
--- a/libgfortran/runtime/main.c
+++ b/libgfortran/runtime/main.c
@@ -116,8 +116,10 @@ store_exe_path (const char * argv0)
   memset (buf, 0, sizeof (buf));
 #ifdef HAVE_GETCWD
   cwd = getcwd (buf, sizeof (buf));
+  if (!cwd)
+    cwd = ".";
 #else
-  cwd = "";
+  cwd = ".";
 #endif
 
   /* exe_path will be cwd + "/" + argv[0] + "\0".  This will not work