diff --git a/src/cc65/codeopt.c b/src/cc65/codeopt.c
index a3b49ef48..31bcfb390 100644
--- a/src/cc65/codeopt.c
+++ b/src/cc65/codeopt.c
@@ -1515,6 +1515,7 @@ static OptFunc DOptNegAX1      	= { OptNegAX1,       "OptNegAX1",      	100, 0,
 static OptFunc DOptNegAX2      	= { OptNegAX2,       "OptNegAX2",      	100, 0, 0, 0, 0, 0 };
 static OptFunc DOptNegAX3      	= { OptNegAX3,       "OptNegAX3",      	100, 0, 0, 0, 0, 0 };
 static OptFunc DOptNegAX4      	= { OptNegAX4,       "OptNegAX4",      	100, 0, 0, 0, 0, 0 };
+static OptFunc DOptPrecalc      = { OptPrecalc,      "OptPrecalc",     	100, 0, 0, 0, 0, 0 };
 static OptFunc DOptPtrLoad1    	= { OptPtrLoad1,     "OptPtrLoad1",    	100, 0, 0, 0, 0, 0 };
 static OptFunc DOptPtrLoad2    	= { OptPtrLoad2,     "OptPtrLoad2",    	100, 0, 0, 0, 0, 0 };
 static OptFunc DOptPtrLoad3    	= { OptPtrLoad3,     "OptPtrLoad3",    	100, 0, 0, 0, 0, 0 };
@@ -1579,6 +1580,7 @@ static OptFunc* OptFuncs[] = {
     &DOptNegAX2,
     &DOptNegAX3,
     &DOptNegAX4,
+    &DOptPrecalc,
     &DOptPtrLoad1,
     &DOptPtrLoad2,
     &DOptPtrLoad3,
@@ -1846,6 +1848,7 @@ static unsigned RunOptGroup1 (CodeSeg* S)
 
     Changes += RunOptFunc (S, &DOptPtrStore1, 1);
     Changes += RunOptFunc (S, &DOptPtrStore2, 1);
+    Changes += RunOptFunc (S, &DOptPrecalc, 1);
     Changes += RunOptFunc (S, &DOptPtrLoad1, 1);
     Changes += RunOptFunc (S, &DOptPtrLoad2, 1);
     Changes += RunOptFunc (S, &DOptPtrLoad3, 1);
diff --git a/src/cc65/coptind.c b/src/cc65/coptind.c
index b14b27ed9..4b366f3c4 100644
--- a/src/cc65/coptind.c
+++ b/src/cc65/coptind.c
@@ -6,9 +6,9 @@
 /*                                                                           */
 /*                                                                           */
 /*                                                                           */
-/* (C) 2001-2002 Ullrich von Bassewitz                                       */
-/*               Wacholderweg 14                                             */
-/*               D-70597 Stuttgart                                           */
+/* (C) 2001-2003 Ullrich von Bassewitz                                       */
+/*               Römerstrasse 52                                             */
+/*               D-70794 Filderstadt                                         */
 /* EMail:        uz@cc65.org                                                 */
 /*                                                                           */
 /*                                                                           */
@@ -1206,6 +1206,75 @@ unsigned OptPushPop (CodeSeg* S)
 
 
 
+unsigned OptPrecalc (CodeSeg* S)
+/* Replace immediate operations with the accu where the current contents are
+ * known by a load of the final value.
+ */
+{
+    unsigned Changes = 0;
+    unsigned I;
+
+    /* Generate register info for this step */
+    CS_GenRegInfo (S);
+
+    /* Walk over the entries */
+    I = 0;
+    while (I < CS_GetEntryCount (S)) {
+
+      	/* Get next entry */
+       	CodeEntry* E = CS_GetEntry (S, I);
+
+       	/* Get a pointer to the input registers of the insn */
+	const RegContents* In  = &E->RI->In;
+
+        /* Check for a known register value and known operand */
+        if (RegValIsKnown (In->RegA) && CE_KnownImm (E)) {
+
+            const char* Arg;
+
+            /* Handle the different instructions */
+            switch (E->OPC) {
+
+                case OP65_AND:
+                    Arg = MakeHexArg (In->RegA & E->Num);
+                    break;
+
+                case OP65_EOR:
+                    Arg = MakeHexArg (In->RegA ^ E->Num);
+                    break;
+
+                case OP65_ORA:
+                    Arg = MakeHexArg (In->RegA | E->Num);
+                    break;
+
+                default:
+                    Arg = 0;
+                    break;
+
+            }
+
+            /* If we have a new entry, replace the old one */
+            if (Arg) {
+                CodeEntry* X = NewCodeEntry (OP65_LDA, AM65_IMM, Arg, 0, E->LI);
+                CS_InsertEntry (S, X, I+1);
+                CS_DelEntry (S, I);
+                ++Changes;
+            }
+        }
+
+	/* Next entry */
+	++I;
+    }
+
+    /* Free register info */
+    CS_FreeRegInfo (S);
+
+    /* Return the number of changes made */
+    return Changes;
+}
+
+
+
 /*****************************************************************************/
 /*		       	     Optimize branch types 			     */
 /*****************************************************************************/
diff --git a/src/cc65/coptind.h b/src/cc65/coptind.h
index 0eb4cf33c..abad65359 100644
--- a/src/cc65/coptind.h
+++ b/src/cc65/coptind.h
@@ -6,9 +6,9 @@
 /*                                                                           */
 /*                                                                           */
 /*                                                                           */
-/* (C) 2001-2002 Ullrich von Bassewitz                                       */
-/*               Wacholderweg 14                                             */
-/*               D-70597 Stuttgart                                           */
+/* (C) 2001-2003 Ullrich von Bassewitz                                       */
+/*               Römerstrasse 52                                             */
+/*               D-70794 Filderstadt                                         */
 /* EMail:        uz@cc65.org                                                 */
 /*                                                                           */
 /*                                                                           */
@@ -108,6 +108,11 @@ unsigned OptTransfers (CodeSeg* S);
 unsigned OptPushPop (CodeSeg* S);
 /* Remove a PHA/PLA sequence were A is not used later */
 
+unsigned OptPrecalc (CodeSeg* S);
+/* Replace immediate operations with the accu where the current contents are
+ * known by a load of the final value.
+ */
+
 unsigned OptBranchDist (CodeSeg* S);
 /* Change branches for the distance needed. */