diff --git a/gas/ChangeLog b/gas/ChangeLog
index 34e844bbff..e5ac47426f 100644
--- a/gas/ChangeLog
+++ b/gas/ChangeLog
@@ -1,3 +1,8 @@
+2003-06-02  Alan Modra  <amodra@bigpond.net.au>
+
+	* macro.c (sub_actual): Don't lose string if it turns out that
+	&string wasn't an arg.
+
 2003-05-31  Richard Henderson  <rth@redhat.com>
 
 	* dw2gencfi.c (output_fde): Use fix_new to emit pc-relative reloc.
diff --git a/gas/macro.c b/gas/macro.c
index 469ca801f3..b0b7ec21e7 100644
--- a/gas/macro.c
+++ b/gas/macro.c
@@ -637,6 +637,7 @@ sub_actual (start, in, t, formal_hash, kind, out, copyifnotthere)
     {
       /* Doing this permits people to use & in macro bodies.  */
       sb_add_char (out, '&');
+      sb_add_sb (out, t);
     }
   else if (copyifnotthere)
     {