diff -urN a-3.4.x/configure.ac b-3.4.x/configure.ac
--- a-3.4.x/configure.ac	2012-10-13 16:58:23.000000000 +0100
+++ b-3.4.x/configure.ac	2012-11-08 07:57:01.550278104 +0000
@@ -894,6 +894,7 @@
 
 # Other platforms follow
 if test $enable_shared = "yes"; then
+  PY_ENABLE_SHARED=1
   AC_DEFINE(Py_ENABLE_SHARED, 1, [Defined if Python is built as a shared library.])
   case $ac_sys_system in
     CYGWIN*)
@@ -949,6 +950,7 @@
 
   esac
 else # shared is disabled
+  PY_ENABLE_SHARED=0
   case $ac_sys_system in
     CYGWIN*)
           BLDLIBRARY='$(LIBRARY)'
@@ -956,6 +958,7 @@
           ;;
   esac
 fi
+AC_SUBST(PY_ENABLE_SHARED)
 
 if test "$cross_compiling" = yes; then
 	RUNSHARED=
@@ -4597,7 +4600,7 @@
 fi
 
 # generate output files
-AC_CONFIG_FILES(Makefile.pre Modules/Setup.config Misc/python.pc)
+AC_CONFIG_FILES(Makefile.pre Modules/Setup.config Misc/python.pc Misc/python-config.sh)
 AC_CONFIG_FILES([Modules/ld_so_aix], [chmod +x Modules/ld_so_aix])
 AC_OUTPUT
 
diff -urN a-3.4.x/Makefile.pre.in b-3.4.x/Makefile.pre.in
--- a-3.4.x/Makefile.pre.in	2012-10-13 16:58:23.000000000 +0100
+++ b-3.4.x/Makefile.pre.in	2012-11-08 07:57:01.270281622 +0000
@@ -1120,6 +1120,8 @@
 	# Substitution happens here, as the completely-expanded BINDIR
 	# is not available in configure
 	sed -e "s,@EXENAME@,$(BINDIR)/python$(LDVERSION)$(EXE)," < $(srcdir)/Misc/python-config.in >python-config
+	# Replace makefile compat. variable references with shell script compat. ones; $(VAR) -> ${VAR}
+	sed -e "s,\$$(\([A-Za-z0-9_]*\)),\$$\{\1\},g" < Misc/python-config.sh >python-config.sh
 
 # Install the include files
 INCLDIRSTOMAKE=$(INCLUDEDIR) $(CONFINCLUDEDIR) $(INCLUDEPY) $(CONFINCLUDEPY)
@@ -1178,6 +1180,7 @@
 	$(INSTALL_SCRIPT) $(srcdir)/Modules/makesetup $(DESTDIR)$(LIBPL)/makesetup
 	$(INSTALL_SCRIPT) $(srcdir)/install-sh $(DESTDIR)$(LIBPL)/install-sh
 	$(INSTALL_SCRIPT) python-config $(DESTDIR)$(BINDIR)/python$(LDVERSION)-config
+	$(INSTALL_SCRIPT) python-config.sh $(DESTDIR)$(BINDIR)/python-config.sh
 	rm python-config
 	@if [ -s Modules/python.exp -a \
 		"`echo $(MACHDEP) | sed 's/^\(...\).*/\1/'`" = "aix" ]; then \
diff -urN a-3.4.x/Misc/python-config.sh.in b-3.4.x/Misc/python-config.sh.in
--- a-3.4.x/Misc/python-config.sh.in	1970-01-01 01:00:00.000000000 +0100
+++ b-3.4.x/Misc/python-config.sh.in	2012-11-08 08:56:18.253564015 +0000
@@ -0,0 +1,110 @@
+#!/bin/sh
+
+exit_with_usage ()
+{
+    echo "Usage: $0 --prefix|--exec-prefix|--includes|--libs|--cflags|--ldflags|--extension-suffix|--help|--abiflags|--configdir"
+    exit 1
+}
+
+if [ "$1" = "" ] ; then
+    exit_with_usage
+fi
+
+# Returns the actual prefix where this script was installed to.
+installed_prefix ()
+{
+    local RESULT=$(dirname $(cd $(dirname "$1") && pwd -P))
+    if [ $(which readlink) ] ; then
+        RESULT=$(readlink -f "$RESULT")
+    fi
+    echo $RESULT
+}
+
+prefix_build="@prefix@"
+prefix_real=$(installed_prefix "$0")
+
+# Use sed to fix paths from their built to locations to their installed to locations.
+prefix=$(echo "$prefix_build" | sed "s#$prefix_build#$prefix_real#")
+exec_prefix_build="@exec_prefix@"
+exec_prefix=$(echo "$exec_prefix_build" | sed "s#$exec_prefix_build#$prefix_real#")
+includedir=$(echo "@includedir@" | sed "s#$prefix_build#$prefix_real#")
+libdir=$(echo "@libdir@" | sed "s#$prefix_build#$prefix_real#")
+CFLAGS=$(echo "@CFLAGS@" | sed "s#$prefix_build#$prefix_real#")
+VERSION="@VERSION@"
+LIBM="@LIBM@"
+LIBC="@LIBC@"
+SYSLIBS="$LIBM $LIBC"
+ABIFLAGS="@ABIFLAGS@"
+# Protect against lack of substitution.
+if [ "$ABIFLAGS" = "@ABIFLAGS@" ] ; then
+    ABIFLAGS=
+fi
+LIBS="@LIBS@ $SYSLIBS -lpython${VERSION}${ABIFLAGS}"
+BASECFLAGS="@BASECFLAGS@"
+LDLIBRARY="@LDLIBRARY@"
+LINKFORSHARED="@LINKFORSHARED@"
+OPT="@OPT@"
+PY_ENABLE_SHARED="@PY_ENABLE_SHARED@"
+LDVERSION="@LDVERSION@"
+LIBDEST=${prefix}/lib/python${VERSION}
+LIBPL=${LIBDEST}/config-${LDVERSION}
+SO="@SO@"
+PYTHONFRAMEWORK="@PYTHONFRAMEWORK@"
+INCDIR="-I$includedir/python${VERSION}${ABIFLAGS}"
+PLATINCDIR="-I$includedir/python${VERSION}${ABIFLAGS}"
+
+# Scan for --help or unknown argument.
+for ARG in $*
+do
+    case $ARG in
+        --help)
+            exit_with_usage
+        ;;
+        --prefix|--exec-prefix|--includes|--libs|--cflags|--ldflags|--extension-suffix|--abiflags|--configdir)
+        ;;
+        *)
+            exit_with_usage
+        ;;
+    esac
+done
+
+for ARG in $*
+do
+    case $ARG in
+        --prefix)
+            echo "$prefix"
+        ;;
+        --exec-prefix)
+            echo "$exec_prefix"
+        ;;
+        --includes)
+            echo "$INCDIR"
+        ;;
+        --cflags)
+            echo "$INCDIR $BASECFLAGS $CFLAGS $OPT"
+        ;;
+        --libs)
+            echo "$LIBS"
+        ;;
+        --ldflags)
+            LINKFORSHAREDUSED=
+            if [ -z "$PYTHONFRAMEWORK" ] ; then
+                LINKFORSHAREDUSED=$LINKFORSHARED
+            fi
+            LIBPLUSED=
+            if [ "$PY_ENABLE_SHARED" = "0" ] ; then
+                LIBPLUSED="-L$LIBPL"
+            fi
+            echo "$LIBPLUSED -L$libdir $LIBS $LINKFORSHAREDUSED"
+        ;;
+        --extension-suffix)
+            echo "$SO"
+        ;;
+        --abiflags)
+            echo "$ABIFLAGS"
+        ;;
+        --configdir)
+            echo "$LIBPL"
+        ;;
+esac
+done