diff --git a/gcc/ChangeLog b/gcc/ChangeLog
index d4c198664b6..06349544583 100644
--- a/gcc/ChangeLog
+++ b/gcc/ChangeLog
@@ -1,3 +1,7 @@
+2011-10-26  Richard Guenther  <rguenther@suse.de>
+
+	* lto-wrapper.c (run_gcc): Properly init/free obstack.
+
 2011-10-26  Jakub Jelinek  <jakub@redhat.com>
 
 	* config/i386/i386.md (UNSPEC_VSIBADDR): New.
diff --git a/gcc/lto-wrapper.c b/gcc/lto-wrapper.c
index f5f3dd24b45..f0a3cf3dce2 100644
--- a/gcc/lto-wrapper.c
+++ b/gcc/lto-wrapper.c
@@ -339,7 +339,6 @@ run_gcc (unsigned argc, char *argv[])
   char *list_option_full = NULL;
   const char *linker_output = NULL;
   const char *collect_gcc, *collect_gcc_options;
-  struct obstack env_obstack;
   int parallel = 0;
   int jobserver = 0;
   bool no_partition = false;
@@ -517,11 +516,13 @@ run_gcc (unsigned argc, char *argv[])
     {
       FILE *stream = fopen (ltrans_output_file, "r");
       FILE *mstream = NULL;
+      struct obstack env_obstack;
 
       if (!stream)
 	fatal_perror ("fopen: %s", ltrans_output_file);
 
       /* Parse the list of LTRANS inputs from the WPA stage.  */
+      obstack_init (&env_obstack);
       nr = 0;
       for (;;)
 	{
@@ -574,7 +575,6 @@ cont:
 
 	  /* Replace the .o suffix with a .ltrans.o suffix and write
 	     the resulting name to the LTRANS output list.  */
-	  obstack_init (&env_obstack);
 	  obstack_grow (&env_obstack, input_name, strlen (input_name) - 2);
 	  obstack_grow (&env_obstack, ".ltrans.o", sizeof (".ltrans.o"));
 	  output_name = XOBFINISH (&env_obstack, char *);
@@ -654,9 +654,8 @@ cont:
       free (output_names);
       free (input_names);
       free (list_option_full);
+      obstack_free (&env_obstack, NULL);
     }
-
-  obstack_free (&env_obstack, NULL);
 }