diff --git a/python3.spec b/python3.spec
index a2b6d7f..51377dd 100644
--- a/python3.spec
+++ b/python3.spec
@@ -118,7 +118,7 @@
 Summary: Version 3 of the Python programming language aka Python 3000
 Name: python3
 Version: %{pybasever}.1
-Release: 2.2%{?dist}
+Release: 3%{?dist}
 License: Python
 Group: Development/Languages
 
@@ -766,8 +766,10 @@ iconv -f iso8859-1 -t utf-8 %{buildroot}/%{pylibdir}/Demo/rpc/README > README.co
 # for the 2to3 tool, and one of the functions of the 2to3 tool is to fixup
 # character encodings within python source code
 
-# Do bytecompilation with the new interpreter.
-LD_LIBRARY_PATH=. /usr/lib/rpm/brp-python-bytecompile ./python
+# Do bytecompilation with the newly installed interpreter.
+LD_LIBRARY_PATH=%{buildroot}/%{dynload_dir}/ \
+    PYTHONPATH="%{buildroot}/%{_libdir}python%{pybasever} %{buildroot}/%{_libdir}python%{pybasever}/site-packages" \
+    /usr/lib/rpm/brp-python-bytecompile %{buildroot}%{_bindir}/python%{pybasever}
 
 # Fixup permissions for shared libraries from non-standard 555 to standard 755:
 find %{buildroot} \
@@ -1308,6 +1310,9 @@ rm -fr %{buildroot}
 # ======================================================
 
 %changelog
+* Sun Feb  5 2012 Thomas Spura <tomspur@fedoraproject.org> - 3.2.1-3
+- use newly installed python for byte compiling (#787498)
+
 * Thu Sep  1 2011 David Malcolm <dmalcolm@redhat.com> - 3.2.1-2.2
 - disable parts of test_io on ppc (rhbz#732998)
 - use "--findleaks --verbose" when running test suite