diff --git a/win32/build-tcc.bat b/win32/build-tcc.bat
index 3b2bb1e1..e0042903 100644
--- a/win32/build-tcc.bat
+++ b/win32/build-tcc.bat
@@ -10,7 +10,7 @@ echo>>..\config.h #define CONFIG_SYSROOT ""
 @if _%PROCESSOR_ARCHITECTURE%_==_AMD64_ goto x86_64
 
 @set target=-DTCC_TARGET_PE -DTCC_TARGET_I386
-@set CC=gcc -Os -s
+@set CC=gcc -Os -s -fno-strict-aliasing
 @set AR=ar
 @set P=32
 @goto tools
@@ -18,7 +18,7 @@ echo>>..\config.h #define CONFIG_SYSROOT ""
 :x86_64
 @set target=-DTCC_TARGET_PE -DTCC_TARGET_X86_64
 @rem mingw 64 has an ICE with -Os
-@set CC=x86_64-pc-mingw32-gcc -O0 -s
+@set CC=x86_64-pc-mingw32-gcc -O0 -s -fno-strict-aliasing
 @set AR=x86_64-pc-mingw32-ar
 @set P=64
 
@@ -29,11 +29,12 @@ echo>>..\config.h #define CONFIG_SYSROOT ""
 :libtcc
 if not exist libtcc\nul mkdir libtcc
 copy ..\libtcc.h libtcc\libtcc.h
-%CC% %target% -fno-strict-aliasing -DONE_SOURCE ../libtcc.c -c -o libtcc.o
+%CC% %target% -DONE_SOURCE ../libtcc.c -c -o libtcc.o
 %AR% rcs libtcc/libtcc.a libtcc.o
+%CC% %target% -shared -DLIBTCC_AS_DLL -DONE_SOURCE ../libtcc.c -o libtcc/libtcc.dll
 
 :tcc
-%CC% %target% -fno-strict-aliasing ../tcc.c -o tcc.exe -ltcc -Llibtcc
+%CC% %target% ../tcc.c -o tcc.exe -ltcc -Llibtcc
 
 :copy_std_includes
 copy ..\include\*.h include