diff --git a/ChangeLog b/ChangeLog
index 1c7544e1..b579d45d 100644
--- a/ChangeLog
+++ b/ChangeLog
@@ -1,3 +1,9 @@
+1999-09-14  Alexandre Oliva  <oliva@lsd.ic.unicamp.br>
+
+	* ltconfig.in (CDPATH): Set to `:' instead of empty.
+	* ltmain.in (CDPATH): Likewise.
+	Reported by Greg McGary <gkm@eng.ascend.com>
+
 1999-08-24  Gary V. Vaughan  <gary@oranda.demon.co.uk>
 
 	* ltconfig.in (ltdll.c, impgen.c): Prevent the shell from
diff --git a/ltconfig.in b/ltconfig.in
index 079c5488..5041f192 100755
--- a/ltconfig.in
+++ b/ltconfig.in
@@ -63,7 +63,7 @@ fi
 
 # The HP-UX ksh and POSIX shell print the target directory to stdout
 # if CDPATH is set.
-if test "X${CDPATH+set}" = Xset; then CDPATH=; export CDPATH; fi
+if test "X${CDPATH+set}" = Xset; then CDPATH=:; export CDPATH; fi
 
 if test "X${echo_test_string+set}" != Xset; then
   # find a string as large as possible, as long as the shell can cope with it
@@ -2893,7 +2893,7 @@ Xsed="sed -e s/^X//"
 
 # The HP-UX ksh and POSIX shell print the target directory to stdout
 # if CDPATH is set.
-if test "X\${CDPATH+set}" = Xset; then CDPATH=; export CDPATH; fi
+if test "X\${CDPATH+set}" = Xset; then CDPATH=:; export CDPATH; fi
 
 ### BEGIN LIBTOOL CONFIG
 EOF
diff --git a/ltmain.in b/ltmain.in
index 60ee6547..e0be4f3f 100644
--- a/ltmain.in
+++ b/ltmain.in
@@ -3418,7 +3418,7 @@ sed_quote_subst='$sed_quote_subst'
 
 # The HP-UX ksh and POSIX shell print the target directory to stdout
 # if CDPATH is set.
-if test \"\${CDPATH+set}\" = set; then CDPATH=; export CDPATH; fi
+if test \"\${CDPATH+set}\" = set; then CDPATH=:; export CDPATH; fi
 
 relink_command=\"$relink_command\"