diff --git a/gcc/ChangeLog b/gcc/ChangeLog
index e30a66812ab..d58002070a8 100644
--- a/gcc/ChangeLog
+++ b/gcc/ChangeLog
@@ -1,3 +1,9 @@
+2009-02-17  Richard Guenther  <rguenther@suse.de>
+
+	PR tree-optimization/39207
+	* tree-ssa-structalias.c (find_what_p_points_to): Do not emit
+	strict-aliasing warnings for pointers pointing to NULL.
+
 2009-02-16  Joseph Myers  <joseph@codesourcery.com>
 
 	PR c/35446
diff --git a/gcc/tree-ssa-structalias.c b/gcc/tree-ssa-structalias.c
index 03f7a4ade65..f9962b33a98 100644
--- a/gcc/tree-ssa-structalias.c
+++ b/gcc/tree-ssa-structalias.c
@@ -4935,6 +4935,7 @@ find_what_p_points_to (tree p)
 	    {
 	      pi->pt_vars = NULL;
 	      if (pruned > 0
+		  && !pi->pt_null
 		  && pi->is_dereferenced
 		  && warn_strict_aliasing > 0
 		  && !SSA_NAME_IS_DEFAULT_DEF (p))