diff --git a/LICENSE b/LICENSE
index 9ecf40696..2aa532e6c 100644
--- a/LICENSE
+++ b/LICENSE
@@ -1,12 +1,30 @@
-All files marked "Copyright INRIA" in the following directories and
-their sub-directories are distributed under the terms of the GNU
-Library General Public License (included below):
+In the following, "the Library" refers to all files marked "Copyright
+INRIA" in the following directories and their sub-directories:
 
-            asmrun, byterun, config, maccaml, otherlibs, stdlib
+    asmrun, byterun, config, maccaml, otherlibs, stdlib, win32caml
 
-All files marked "Copyright INRIA" in the other directories and their
-sub-directories are distributed under the terms of the Q Public
-License version 1.0 (included below).
+and "the Compiler" refers to all files marked "Copyright INRIA" in the
+other directories and their sub-directories.
+
+The Compiler is distributed under the terms of the Q Public License
+version 1.0 (included below).
+
+The Library is distributed under the terms of the GNU Library General
+Public License version 2 (included below).
+
+As a special exception to the GNU Library General Public License, you
+may link, statically or dynamically, a "work that uses the Library"
+with a publicly distributed version of the Library to produce an
+executable file containing portions of the Library, and distribute
+that executable file under terms of your choice, without any of the
+additional requirements listed in clause 6 of the GNU Library General
+Public License.  By "a publicly distributed version of the Library",
+we mean either the unmodified Library as distributed by INRIA, or a
+modified version of the Library that is distributed under the
+conditions defined in clause 3 of the GNU Library General Public
+License.  This exception does not however invalidate any other reasons
+why the executable file might be covered by the GNU Library General
+Public License.
 
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