diff --git a/gcc/ChangeLog b/gcc/ChangeLog
index 892b9a9a881..15b9b671bcd 100644
--- a/gcc/ChangeLog
+++ b/gcc/ChangeLog
@@ -1,8 +1,11 @@
 2001-08-05  Bernd Schmidt  <bernds@redhat.com>
 
-        * doloop.c (doloop_modify_runtime): Properly compute number of
+	* doloop.c (doloop_modify_runtime): Properly compute number of
 	iterations if loop was unrolled.
 
+	* alias.c (rtx_equal_for_memref_p): VALUEs are only identical
+	if their CSELIB_VAL_PTRs are.
+
 2001-08-04  Hans-Peter Nilsson  <hp@bitrange.com>
 
 	* config/sh/sh.c (sh_asm_named_section): Fix typo in align
diff --git a/gcc/alias.c b/gcc/alias.c
index 1a28eb63550..e7417183c21 100644
--- a/gcc/alias.c
+++ b/gcc/alias.c
@@ -1032,6 +1032,9 @@ rtx_equal_for_memref_p (x, y)
   /* Some RTL can be compared without a recursive examination.  */
   switch (code)
     {
+    case VALUE:
+      return CSELIB_VAL_PTR (x) == CSELIB_VAL_PTR (y);
+
     case REG:
       return REGNO (x) == REGNO (y);