diff --git a/src/Makefile.shlib b/src/Makefile.shlib
index a95e4d65e58a0eeafc8f0c12e0c1a4fe7da3f398..1db906034d69ca0342832cd0cef6dcc5a9da158e 100644
--- a/src/Makefile.shlib
+++ b/src/Makefile.shlib
@@ -34,12 +34,6 @@
 # SO_MINOR_VERSION      Minor version number to use for shared library
 # (If you want a patchlevel, include it in SO_MINOR_VERSION, e.g., "6.2".)
 #
-# Optional flags when building DLL's (only applicable to win32 and cygwin
-# platforms).
-# DLLTOOL_DEFFLAGS      Additional flags when creating the dll .def file
-# DLLTOOL_LIBFLAGS      Additional flags when creating the lib<module>.a file
-# DLLWRAP_FLAGS         Additional flags to dllwrap
-#
 # The module Makefile must also include
 # $(top_builddir)/src/Makefile.global before including this file.
 # (Makefile.global sets PORTNAME and other needed symbols.)
@@ -358,11 +352,10 @@ endif # PORTNAME == aix
 
 else # PORTNAME == cygwin || PORTNAME == win32
 
-# Cygwin or Win32 case
-
-# If SHLIB_EXPORTS is set, the rules below will build a .def file from
-# that.  Else we build a temporary one here.
 ifeq ($(PORTNAME), cygwin)
+
+# Cygwin case
+
 $(shlib): $(OBJS) | $(SHLIB_PREREQS)
 	$(CC) $(CFLAGS)  -shared -o $@  $(OBJS) $(LDFLAGS) $(LDFLAGS_SL) $(SHLIB_LINK) $(LIBS) $(LDAP_LIBS_BE)
 
@@ -370,23 +363,29 @@ $(stlib): $(OBJS) | $(SHLIB_PREREQS)
 	$(LINK.static) $@ $^
 	$(RANLIB) $@
 
-
 else
-ifeq (,$(SHLIB_EXPORTS))
-DLL_DEFFILE = lib$(NAME)dll.def
-exports_file = $(DLL_DEFFILE)
 
-$(exports_file): $(OBJS)
-	$(DLLTOOL) --export-all $(DLLTOOL_DEFFLAGS) --output-def $@ $^
+# Win32 case
+
+# There is no correct way to write a rule that generates two files.
+# Rules with two targets don't have that meaning, they are merely
+# shorthand for two otherwise separate rules.  To be safe for parallel
+# make, we must chain the dependencies like this.  The semicolon is
+# important, otherwise make will choose some built-in rule.
+
+$(stlib): $(shlib) ;
+
+# If SHLIB_EXPORTS is set, the rules below will build a .def file from that.
+# Else we just use --export-all-symbols.
+ifeq (,$(SHLIB_EXPORTS))
+$(shlib): $(OBJS) | $(SHLIB_PREREQS)
+	$(CC) $(CFLAGS)  -shared -o $@  $(OBJS) $(LDFLAGS) $(LDFLAGS_SL) $(SHLIB_LINK) $(LIBS) -Wl,--export-all-symbols -Wl,--out-implib=$(stlib)
 else
 DLL_DEFFILE = lib$(NAME)dll.def
-endif
 
 $(shlib): $(OBJS) $(DLL_DEFFILE) | $(SHLIB_PREREQS)
-	$(DLLWRAP) -o $@ --dllname $(shlib) $(DLLWRAP_FLAGS) --def $(DLL_DEFFILE) $(OBJS) $(LDFLAGS) $(LDFLAGS_SL) $(SHLIB_LINK)
-
-$(stlib): $(shlib) $(DLL_DEFFILE) | $(SHLIB_PREREQS)
-	$(DLLTOOL) --dllname $(shlib) $(DLLTOOL_LIBFLAGS) --def $(DLL_DEFFILE) --output-lib $@
+	$(CC) $(CFLAGS)  -shared -o $@  $(OBJS) $(LDFLAGS) $(LDFLAGS_SL) $(SHLIB_LINK) $(LIBS) $(DLL_DEFFILE) -Wl,--out-implib=$(stlib)
+endif
 
 endif # PORTNAME == cgywin
 endif # PORTNAME == cygwin || PORTNAME == win32
diff --git a/src/backend/Makefile b/src/backend/Makefile
index 8afb1893fd1c86404126f1b655a01f241c24d535..870a02292fcc9ce4f4f99cade49836d8f8876a51 100644
--- a/src/backend/Makefile
+++ b/src/backend/Makefile
@@ -78,18 +78,10 @@ endif # cygwin
 ifeq ($(PORTNAME), win32)
 LIBS += -lsecur32
 
-postgres: $(OBJS) postgres.def libpostgres.a $(WIN32RES)
-	$(DLLTOOL) --dllname $@$(X) --output-exp $@.exp --def postgres.def
-	$(CC) $(CFLAGS) $(LDFLAGS) $(LDFLAGS_EX) -o $@$(X) -Wl,--base-file,$@.base $@.exp $(call expand_subsys,$(OBJS)) $(WIN32RES) $(LIBS)
-	$(DLLTOOL) --dllname $@$(X) --base-file $@.base --output-exp $@.exp --def postgres.def
-	$(CC) $(CFLAGS) $(LDFLAGS) $(LDFLAGS_EX) -Wl,--stack=$(WIN32_STACK_RLIMIT) -o $@$(X) $@.exp $(call expand_subsys,$(OBJS)) $(WIN32RES) $(LIBS)
-	rm -f $@.exp $@.base
+postgres: $(OBJS) $(WIN32RES)
+	$(CC) $(CFLAGS) $(LDFLAGS) $(LDFLAGS_EX) -Wl,--stack=$(WIN32_STACK_RLIMIT) -Wl,--export-all-symbols -Wl,--out-implib=libpostgres.a $(call expand_subsys,$(OBJS)) $(WIN32RES) $(LIBS) -o $@$(X)
 
-postgres.def: $(OBJS)
-	$(DLLTOOL) --export-all --output-def $@ $(call expand_subsys,$^)
-
-libpostgres.a: postgres.def
-	$(DLLTOOL) --dllname postgres.exe --def postgres.def --output-lib $@
+libpostgres.a: postgres ;
 
 endif # win32
 
@@ -296,7 +288,7 @@ ifeq ($(PORTNAME), cygwin)
 	rm -f postgres.dll libpostgres.a
 endif
 ifeq ($(PORTNAME), win32)
-	rm -f postgres.dll postgres.def libpostgres.a $(WIN32RES)
+	rm -f postgres.dll libpostgres.a $(WIN32RES)
 endif
 
 distclean: clean
diff --git a/src/makefiles/Makefile.win32 b/src/makefiles/Makefile.win32
index 1aae9e95df1f0f380e4275d1772132ebde486cc3..b18621b2f8b92c5f25dc16e848295fbc70904617 100644
--- a/src/makefiles/Makefile.win32
+++ b/src/makefiles/Makefile.win32
@@ -72,6 +72,4 @@ win32ver.o: win32ver.rc
 
 # Rule for building a shared library from a single .o file
 %.dll: %.o
-	$(DLLTOOL) --export-all --output-def $*.def $<
-	$(DLLWRAP) -o $@ --def $*.def $< $(LDFLAGS) $(LDFLAGS_SL) $(BE_DLLLIBS)
-	rm -f $*.def
+	$(CC) $(CFLAGS) -shared -o $@ $< -Wl,--export-all-symbols $(LDFLAGS) $(LDFLAGS_SL) $(BE_DLLLIBS)