diff -r 7fa3e824a4ee Lib/py_compile.py
--- a/Lib/py_compile.py	Tue Oct 29 22:25:06 2013 -0400
+++ b/Lib/py_compile.py	Wed Oct 30 11:24:00 2013 +0100
@@ -108,15 +108,15 @@
     byte-compile all installed files (or all files in selected
     directories).
     """
-    with tokenize.open(file) as f:
-        try:
-            st = os.fstat(f.fileno())
-        except AttributeError:
-            st = os.stat(file)
-        timestamp = int(st.st_mtime)
-        size = st.st_size & 0xFFFFFFFF
-        codestring = f.read()
     try:
+        with tokenize.open(file) as f:
+            try:
+                st = os.fstat(f.fileno())
+            except AttributeError:
+                st = os.stat(file)
+            timestamp = int(st.st_mtime)
+            size = st.st_size & 0xFFFFFFFF
+            codestring = f.read()
         codeobject = builtins.compile(codestring, dfile or file, 'exec',
                                       optimize=optimize)
     except Exception as err:
diff -r 7fa3e824a4ee Lib/test/test_py_compile.py
--- a/Lib/test/test_py_compile.py	Tue Oct 29 22:25:06 2013 -0400
+++ b/Lib/test/test_py_compile.py	Wed Oct 30 11:24:00 2013 +0100
@@ -54,6 +54,10 @@
         self.assertTrue(os.path.exists(self.pyc_path))
         self.assertFalse(os.path.exists(self.cache_path))
 
+    def test_bad_coding(self):
+        bad_coding = os.path.join(os.path.dirname(__file__), 'bad_coding2.py')
+        self.assertIsNone(py_compile.compile(bad_coding, doraise=False))
+
 def test_main():
     support.run_unittest(PyCompileTests)