diff --git a/Python/pythonrun.c b/Python/pythonrun.c
index 044c4a9..763f905 100644
--- a/Python/pythonrun.c
+++ b/Python/pythonrun.c
@@ -217,6 +217,9 @@
 		Py_FatalError("Py_Initialize: can't initialize builtins dict");
 	Py_INCREF(interp->builtins);
 
+	/* initialize builtin exceptions */
+	_PyExc_Init();
+
 	sysmod = _PySys_Init();
 	if (sysmod == NULL)
 		Py_FatalError("Py_Initialize: can't initialize sys");
@@ -239,9 +242,6 @@
 
 	_PyImport_Init();
 
-	/* initialize builtin exceptions */
-	_PyExc_Init();
-
 	/* phase 2 of builtins */
 	_PyImport_FixupExtension("__builtin__", "__builtin__");