diff --git a/src/tools/intel-win.jam b/src/tools/intel-win.jam
index 9056fd13b..7cc14f314 100644
--- a/src/tools/intel-win.jam
+++ b/src/tools/intel-win.jam
@@ -76,7 +76,7 @@ rule init ( version ? :     # the compiler version
     toolset.flags intel-win.compile .CC $(condition) : $(setup)icl ;
     toolset.flags intel-win.link .LD $(condition) : $(setup)xilink ;
     toolset.flags intel-win.archive .LD $(condition) : $(setup)xilink /lib ;
-    toolset.flags intel-win.link .MT $(condition) : mt -nologo ;
+    toolset.flags intel-win.link .MT $(condition) : $(setup)mt -nologo ;
 
     local m = [ MATCH (.).* : $(version) ] ;
     local major = $(m[1]) ;