diff -Naur ocaml-3.09.3/emacs/Makefile ocaml-3.09.3.emacs/emacs/Makefile
--- ocaml-3.09.3/emacs/Makefile	2007-01-24 09:40:57.000000000 +0100
+++ ocaml-3.09.3.emacs/emacs/Makefile	2007-01-24 10:15:54.000000000 +0100
@@ -18,6 +18,8 @@
 FILES=	caml-font.el caml-hilit.el caml.el camldebug.el \
 	inf-caml.el caml-compat.el caml-help.el caml-types.el \
 	caml-xemacs.el caml-emacs.el
+BYTECODE_FILES= caml-xemacs.elc caml-emacs.elc caml.elc \
+                inf-caml.elc caml-help.elc caml-types.elc camldebug.elc
 
 # Where to install. If empty, automatically determined.
 #EMACSDIR=
@@ -39,6 +41,11 @@
               (byte-compile-file "caml-types.el") \
               (byte-compile-file "camldebug.el"))
 
+all: bytecode
+
+bytecode:
+	$(EMACS) --batch --eval '$(COMPILECMD)';
+
 install:
 	@if test "$(EMACSDIR)" = ""; then \
           set xxx `($(EMACS) --batch --eval "(mapcar 'print load-path)") \
@@ -53,19 +60,21 @@
           $(MAKE) simple-install; \
         fi
 
-# install the .el files, but do not compile them.
-install-el:
-	$(MAKE) NOCOMPILE=true install
-
 simple-install:
 	@echo "Installing in $(EMACSDIR)..."
 	if test -d $(EMACSDIR); then : ; else mkdir -p $(EMACSDIR); fi
-	cp $(FILES) $(EMACSDIR)
+	  $(MAKE) simple-install-el; \
 	if [ -z "$(NOCOMPILE)" ]; then \
-	  cd $(EMACSDIR); $(EMACS) --batch --eval '$(COMPILECMD)'; \
+	  $(MAKE) simple-install-elc; \
 	fi
 
-ocamltags:	ocamltags.in
+simple-install-el:
+	cp $(FILES) $(EMACSDIR)
+
+simple-install-elc: bytecode
+	cp $(BYTECODE_FILES) $(EMACSDIR)
+
+ocamltags: ocamltags.in
 	sed -e 's:@EMACS@:$(EMACS):' ocamltags.in >ocamltags
 	chmod a+x ocamltags
 
@@ -73,4 +82,4 @@
 	cp ocamltags $(SCRIPTDIR)/ocamltags
 
 clean:
-	rm -f ocamltags *~ #*#
+	rm -f ocamltags *~ *.elc #*#