diff -up ksh-20120801/src/cmd/ksh93/bltins/cd_pwd.c.cdfix ksh-20120801/src/cmd/ksh93/bltins/cd_pwd.c
--- ksh-20120801/src/cmd/ksh93/bltins/cd_pwd.c.cdfix	2013-02-01 16:04:55.507150242 +0100
+++ ksh-20120801/src/cmd/ksh93/bltins/cd_pwd.c	2013-02-01 16:06:39.361007641 +0100
@@ -214,7 +214,10 @@ int	b_cd(int argc, char *argv[],Shbltin_
 			if(*++dp=='.' && (*++dp=='/' || *dp==0))
 				n++;
 			else if(*dp && *dp!='/')
+			{
+				dp--;
 				break;
+			}
 			if(*dp==0)
 				break;
 		}