diff --git a/makepanda/makepanda.py b/makepanda/makepanda.py
index ffb971c2ba..2c4a50cde8 100755
--- a/makepanda/makepanda.py
+++ b/makepanda/makepanda.py
@@ -1184,8 +1184,8 @@ def CompileLink(dll, obj, opts):
                 if (x.endswith(".dll")):
                     cmd += ' ' + GetOutputDir() + '/lib/' + os.path.splitext(os.path.basename(x))[0] + ".lib"
                 elif (x.endswith(".lib")):
-                    dname = os.path.splitext(dll)[0]+".dll"
-                    if (GetOrigExt(x) != ".ilb" and os.path.exists(GetOutputDir()+"/bin/" + os.path.splitext(os.path.basename(x))[0] + ".dll")):
+                    dname = os.path.splitext(os.path.basename(x))[0] + ".dll"
+                    if (GetOrigExt(x) != ".ilb" and os.path.exists(GetOutputDir()+"/bin/" + dname)):
                         exit("Error: in makepanda, specify "+dname+", not "+x)
                     cmd += ' ' + BracketNameWithQuotes(x)
                 elif (x.endswith(".def")):