diff --git a/libexec/Makefile b/libexec/Makefile
index edbcadba1bbc..f93269134da3 100644
--- a/libexec/Makefile
+++ b/libexec/Makefile
@@ -1,13 +1,21 @@
 #	from: @(#)Makefile	5.7 (Berkeley) 4/1/91
-#	$Id: Makefile,v 1.19 1996/12/16 20:01:34 cgd Exp $
+#	$Id: Makefile,v 1.20 1996/12/18 05:39:13 thorpej Exp $
 
-.include <bsd.own.mk>
+.include <bsd.own.mk>			# for EXPORTABLE_SYSTEM
+#					# and ELF_TOOLCHAIN
 
 SUBDIR=	atrun comsat fingerd ftpd getNAME getty identd lfs_cleanerd \
 	mail.local makekey makewhatis rexecd rlogind rshd rpc.rquotad \
-	rpc.rstatd rpc.rusersd rpc.rwalld rpc.sprayd talkd telnetd \
+	rpc.rstatd rpc.rusersd rpc.rwalld rpc.sprayd talkd \
 	tftpd uucpd
 
+# XXX Keep telnetd(8) and libtelnet from getting out of sync during the build
+# XXX process.
+.if !exists(${.CURDIR}/../domestic/libexec/telnetd) || \
+    defined(EXPORTABLE_SYSTEM)
+SUBDIR+=telned
+.endif
+
 .if ((${MACHINE_ARCH} == "alpha") && defined(ELF_TOOLCHAIN))
 SUBDIR+= ld.elf_so
 .endif