diff --git a/gcc-tools.jam b/gcc-tools.jam
index 023cb77f3..1440ca1ea 100644
--- a/gcc-tools.jam
+++ b/gcc-tools.jam
@@ -346,10 +346,19 @@ rule Link-action
         SOTAG on $(<) = ;
         ACTION_1 on $(<) = ;
     }
+
+    # On Win32, choose different image bases for load-time efficiency
+    if $(NT) {
+        DLL_LINK_FLAGS = "-Wl,--enable-auto-image-base " ;
+    }
+    else {
+        DLL_LINK_FLAGS = "" ;
+    }
+
     # This will appear before the import library name when building a DLL, but
     # will be "multiplied away" otherwise. The --exclude-symbols directive
     # proved to be neccessary with some versions of Cygwin.
-    IMPLIB_COMMAND on $(<) = "-Wl,--export-all-symbols -Wl,--exclude-symbols,_bss_end__:_bss_start__:_data_end__:_data_start__ -Wl,--out-implib," ;
+    IMPLIB_COMMAND on $(<) = "$(DLL_LINK_FLAGS)-Wl,--export-all-symbols -Wl,--exclude-symbols,_bss_end__:_bss_start__:_data_end__:_data_start__ -Wl,--out-implib," ;
     DEPENDS $(<) : $(NEEDLIBS) $(NEEDIMPS) ;
     gRUN_LD_LIBRARY_PATH($(<)) += $(STDLIBPATH:T) ;
     
diff --git a/v1/gcc-tools.jam b/v1/gcc-tools.jam
index 023cb77f3..1440ca1ea 100644
--- a/v1/gcc-tools.jam
+++ b/v1/gcc-tools.jam
@@ -346,10 +346,19 @@ rule Link-action
         SOTAG on $(<) = ;
         ACTION_1 on $(<) = ;
     }
+
+    # On Win32, choose different image bases for load-time efficiency
+    if $(NT) {
+        DLL_LINK_FLAGS = "-Wl,--enable-auto-image-base " ;
+    }
+    else {
+        DLL_LINK_FLAGS = "" ;
+    }
+
     # This will appear before the import library name when building a DLL, but
     # will be "multiplied away" otherwise. The --exclude-symbols directive
     # proved to be neccessary with some versions of Cygwin.
-    IMPLIB_COMMAND on $(<) = "-Wl,--export-all-symbols -Wl,--exclude-symbols,_bss_end__:_bss_start__:_data_end__:_data_start__ -Wl,--out-implib," ;
+    IMPLIB_COMMAND on $(<) = "$(DLL_LINK_FLAGS)-Wl,--export-all-symbols -Wl,--exclude-symbols,_bss_end__:_bss_start__:_data_end__:_data_start__ -Wl,--out-implib," ;
     DEPENDS $(<) : $(NEEDLIBS) $(NEEDIMPS) ;
     gRUN_LD_LIBRARY_PATH($(<)) += $(STDLIBPATH:T) ;