diff --git a/src/Makefile.m32 b/src/Makefile.m32
index e432b0d988..2b8a2257eb 100644
--- a/src/Makefile.m32
+++ b/src/Makefile.m32
@@ -13,7 +13,7 @@ CC = gcc
 RM = rm -f
 STRIP = strip -s
 OPENSSL_PATH = ../../openssl-0.9.6g
-ZLIB_PATH = ../../zlib-1.1.3
+ZLIB_PATH = ../../zlib-1.1.4
 
 # We may need these someday
 # PERL = perl