diff --git a/Makefile.in b/Makefile.in
index 98d2b4f1..f8f33614 100644
--- a/Makefile.in
+++ b/Makefile.in
@@ -114,7 +114,7 @@ version.sed: version version.pl
 # This source file is generated from the standard macros file
 # `standard.mac' by another Perl script. Again, it's part of the
 # standard distribution.
-macros.c: macros.pl standard.mac version.mac $(srcdir)/macros/*.mac
+macros.c: macros.pl pptok.ph standard.mac version.mac $(srcdir)/macros/*.mac
 	$(PERL) $(srcdir)/macros.pl $(srcdir)/standard.mac version.mac \
 		$(srcdir)/macros/*.mac
 
@@ -148,12 +148,14 @@ pptok.h: pptok.dat pptok.pl perllib/phash.ph
 	$(PERL) $(srcdir)/pptok.pl h $(srcdir)/pptok.dat pptok.h
 pptok.c: pptok.dat pptok.pl perllib/phash.ph
 	$(PERL) $(srcdir)/pptok.pl c $(srcdir)/pptok.dat pptok.c
+pptok.ph: pptok.dat pptok.pl perllib/phash.ph
+	$(PERL) $(srcdir)/pptok.pl ph $(srcdir)/pptok.dat pptok.ph
 
 # This target generates all files that require perl.
 # This allows easier generation of distribution (see dist target).
 PERLREQ = macros.c insnsb.c insnsa.c insnsd.c insnsi.h insnsn.c \
 	  regs.c regs.h regflags.c regdis.c regdis.h regvals.c \
-	  tokhash.c tokens.h pptok.h pptok.c \
+	  tokhash.c tokens.h pptok.h pptok.c pptok.ph \
 	  version.h version.mac
 perlreq: $(PERLREQ)
 
diff --git a/macros.pl b/macros.pl
index c22185b9..3474f682 100755
--- a/macros.pl
+++ b/macros.pl
@@ -8,12 +8,16 @@
 # distributed in the NASM archive.
 
 require 'phash.ph';
+require 'pptok.ph';
 
 my $fname;
 my $line = 0;
 my $index      = 0;
 my $tasm_count = 0;
 
+#
+# Generate macros.c
+#
 open(OUT,">macros.c") or die "unable to open macros.c\n";
 
 print OUT "/*\n";
@@ -53,12 +57,30 @@ foreach $fname ( @ARGV ) {
 	    $module_number{$module} = $nmodule++;
 	    $module_index{$module}  = $index;
 	} elsif (m/^\s*((\s*([^\"\';\s]+|\"[^\"]*\"|\'[^\']*\'))*)\s*(;.*)?$/) {
-	    $_ = $1;
-	    s/(\s)\s+/$1/g;
-	    s/\\/\\\\/g;
-	    s/"/\\"/g;
-	    if (length > 0) {
-		printf OUT "        /* %4d */ \"%s\",\n", $index++, $_;
+	    my $s1, $s2, $pd, $ws;
+	    $s1 = $1;
+	    $s1 =~ s/(\s)\s+/$1/g;
+	    $s1 =~ s/\\/\\\\/g;
+	    $s1 =~ s/"/\\"/g;
+	    $s2 = '';
+	    print $s1, ":";
+	    while ($s1 =~ /^(.*)(\%[a-zA-Z_][a-zA-Z0-9_]*)(\s*)(.*)$/) {
+		$s2 .= $1;
+		$pd = $2;
+		$ws = $3;
+		$s1 = $4;
+		print " ", $pd;
+		if (defined($pptok_hash{$pd}) &&
+		    $pptok_hash{$pd} <= 127) {
+		    $s2 .= sprintf("\\x%02x\"\"", $pptok_hash{$pd}+128);
+		} else {
+		    $s2 .= $pd.$ws;
+		}
+	    }
+	    print "\n";
+	    $s2 .= $s1;
+	    if (length($s2) > 0) {
+		printf OUT "        /* %4d */ \"%s\",\n", $index++, $s2;
 	    }
 	} else {
 	    die "$fname:$line:  error unterminated quote";
diff --git a/pptok.pl b/pptok.pl
index 896d9d12..930030ac 100755
--- a/pptok.pl
+++ b/pptok.pl
@@ -1,6 +1,6 @@
 #!/usr/bin/perl
 #
-# Produce pptok.c and pptok.h from pptok.dat
+# Produce pptok.c, pptok.h and pptok.ph from pptok.dat
 #
 
 require 'phash.ph';
@@ -54,14 +54,15 @@ $first_uncond = $pptok[0];
 @pptok = (@cptok, @pptok);
 
 open(OUT, "> $out") or die "$0: cannot open: $out\n";
-print OUT "/* Automatically generated from $in by $0 */\n";
-print OUT "/* Do not edit */\n";
-print OUT "\n";
 
 #
 # Output pptok.h
 #
 if ($what eq 'h') {
+    print OUT "/* Automatically generated from $in by $0 */\n";
+    print OUT "/* Do not edit */\n";
+    print OUT "\n";
+
     print OUT "enum preproc_token {\n";
     $n = 0;
     foreach $pt (@pptok) {
@@ -108,6 +109,10 @@ if ($what eq 'h') {
 # Output pptok.c
 #
 if ($what eq 'c') {
+    print OUT "/* Automatically generated from $in by $0 */\n";
+    print OUT "/* Do not edit */\n";
+    print OUT "\n";
+
     my %tokens = ();
     my @tokendata = ();
 
@@ -157,6 +162,12 @@ if ($what eq 'c') {
     }
     print OUT  "};\n";
 
+    printf OUT "const int pp_directives_len[%d] = {\n", scalar(@pptok);
+    foreach $d (@pptok) {
+	printf OUT "    %d,\n", defined($d) ? length($d)+1 : 0;
+    }
+    print OUT  "};\n";
+
     print OUT "enum preproc_token pp_token_hash(const char *token)\n";
     print OUT "{\n";
 
@@ -202,3 +213,25 @@ if ($what eq 'c') {
     print OUT  "    return ix;\n";
     print OUT  "}\n";
 }
+
+#
+# Output pptok.ph
+#
+if ($what eq 'ph') {
+    print OUT "# Automatically generated from $in by $0\n";
+    print OUT "# Do not edit\n";
+    print OUT "\n";
+    
+    print OUT "%pptok_hash = (\n";
+    $n = 0;
+    foreach $tok (@pptok) {
+	if (defined($tok)) {
+	    printf OUT "    '%%%s' => %d,\n", $tok, $n;
+	}
+	$n++;
+    }
+    print OUT ");\n";
+    print OUT "1;\n";
+}
+
+    
diff --git a/preproc.c b/preproc.c
index 525cce45..ed1c3245 100644
--- a/preproc.c
+++ b/preproc.c
@@ -641,7 +641,30 @@ static char *read_line(void)
     int bufsize, continued_count;
 
     if (stdmacpos) {
-	char *ret = nasm_strdup(*stdmacpos++);
+	unsigned char c;
+	char *ret, *q;
+	const char *smac = *stdmacpos++, *p;
+	size_t len = 0;
+	p = smac;
+	while ((c = *p++)) {
+	    if (c >= 0x80)
+		len += pp_directives_len[c-0x80]+1;
+	    else
+		len++;
+	}
+	ret = nasm_malloc(len+1);
+	p = smac; q = ret;
+	while ((c = *p++)) {
+	    if (c >= 0x80) {
+		memcpy(q, pp_directives[c-0x80], pp_directives_len[c-0x80]);
+		q += pp_directives_len[c-0x80];
+		*q++ = ' ';
+	    } else {
+		*q++ = c;
+	    }
+	}
+	*q = '\0';
+
 	if (!*stdmacpos) {
 	    /* This was the last of the standard macro chain... */
 	    stdmacpos = NULL;
diff --git a/preproc.h b/preproc.h
index d3037ee1..bd1210b2 100644
--- a/preproc.h
+++ b/preproc.h
@@ -12,6 +12,7 @@
 #include "pptok.h"
 
 extern const char * const pp_directives[];
+extern const int pp_directives_len[];
 
 enum preproc_token pp_token_hash(const char *token);
 void pp_include_path(char *);