diff --git a/Source/cmLocalVisualStudio6Generator.cxx b/Source/cmLocalVisualStudio6Generator.cxx
index 7aabf4d99..095e1a796 100644
--- a/Source/cmLocalVisualStudio6Generator.cxx
+++ b/Source/cmLocalVisualStudio6Generator.cxx
@@ -863,7 +863,7 @@ cmLocalVisualStudio6Generator::CreateTargetRules(cmTarget &target,
   event.Write(target.GetPreBuildCommands());
   event.Write(target.GetPreLinkCommands());
   cmsys::auto_ptr<cmCustomCommand> pcc(
-    this->MaybeCreateImplibDir(target, configName));
+    this->MaybeCreateImplibDir(target, configName, false));
   if(pcc.get())
     {
     event.Write(*pcc);
diff --git a/Source/cmLocalVisualStudio7Generator.cxx b/Source/cmLocalVisualStudio7Generator.cxx
index 700d92ad7..b9ffe624a 100644
--- a/Source/cmLocalVisualStudio7Generator.cxx
+++ b/Source/cmLocalVisualStudio7Generator.cxx
@@ -1723,7 +1723,7 @@ void cmLocalVisualStudio7Generator
   event.Start(tool);
   event.Write(target.GetPreLinkCommands());
   cmsys::auto_ptr<cmCustomCommand> pcc(
-    this->MaybeCreateImplibDir(target, configName));
+    this->MaybeCreateImplibDir(target, configName, this->FortranProject));
   if(pcc.get())
     {
     event.Write(*pcc);
diff --git a/Source/cmLocalVisualStudioGenerator.cxx b/Source/cmLocalVisualStudioGenerator.cxx
index 9164beb1c..39f996200 100644
--- a/Source/cmLocalVisualStudioGenerator.cxx
+++ b/Source/cmLocalVisualStudioGenerator.cxx
@@ -32,13 +32,17 @@ cmLocalVisualStudioGenerator::~cmLocalVisualStudioGenerator()
 //----------------------------------------------------------------------------
 cmsys::auto_ptr<cmCustomCommand>
 cmLocalVisualStudioGenerator::MaybeCreateImplibDir(cmTarget& target,
-                                                   const char* config)
+                                                   const char* config,
+                                                   bool isFortran)
 {
   cmsys::auto_ptr<cmCustomCommand> pcc;
 
   // If an executable exports symbols then VS wants to create an
   // import library but forgets to create the output directory.
-  if(target.GetType() != cmTarget::EXECUTABLE) { return pcc; }
+  // The Intel Fortran plugin always forgets to the directory.
+  if(target.GetType() != cmTarget::EXECUTABLE &&
+     !(isFortran && target.GetType() == cmTarget::SHARED_LIBRARY))
+    { return pcc; }
   std::string outDir = target.GetDirectory(config, false);
   std::string impDir = target.GetDirectory(config, true);
   if(impDir == outDir) { return pcc; }
diff --git a/Source/cmLocalVisualStudioGenerator.h b/Source/cmLocalVisualStudioGenerator.h
index 1954ac5f3..22112b317 100644
--- a/Source/cmLocalVisualStudioGenerator.h
+++ b/Source/cmLocalVisualStudioGenerator.h
@@ -47,7 +47,7 @@ protected:
 
   /** Construct a custom command to make exe import lib dir.  */
   cmsys::auto_ptr<cmCustomCommand>
-  MaybeCreateImplibDir(cmTarget& target, const char* config);
+  MaybeCreateImplibDir(cmTarget& target, const char* config, bool isFortran);
 
   // Safe object file name generation.
   void ComputeObjectNameRequirements(std::vector<cmSourceGroup> const&);