diff -ur gdb-7.3.1.orig/gdb/python/python.c gdb-7.3.1/gdb/python/python.c
--- gdb-7.3.1.orig/gdb/python/python.c	2011-07-02 21:33:10.000000000 +0200
+++ gdb-7.3.1/gdb/python/python.c	2011-11-01 21:07:25.000000000 +0100
@@ -33,6 +33,7 @@
 #include "python.h"
 
 #include <ctype.h>
+#include <libgen.h>
 
 /* True if we should print the stack when catching a Python error,
    false otherwise.  */
@@ -1010,6 +1011,15 @@
 			     SLASH_STRING, "python", NULL));
 #endif
 
+  char readlinkbuffer[BUFSIZ];
+  int readlinks = readlink("/proc/self/exe", readlinkbuffer, BUFSIZ - 1);
+  readlinkbuffer[readlinks] = 0;
+  char *executeablepath = dirname(readlinkbuffer);
+  char *pythonhome = malloc(strlen(executeablepath) + strlen("/../") + 2);
+  strcpy(pythonhome, executeablepath);
+  strcat(pythonhome, "/../");
+  setenv("PYTHONHOME", pythonhome, 1);
+
   Py_Initialize ();
   PyEval_InitThreads ();