diff --git a/java.j2seproject/src/org/netbeans/modules/java/j2seproject/resources/build-impl.xsl b/java.j2seproject/src/org/netbeans/modules/java/j2seproject/resources/build-impl.xsl
--- a/java.j2seproject/src/org/netbeans/modules/java/j2seproject/resources/build-impl.xsl
+++ b/java.j2seproject/src/org/netbeans/modules/java/j2seproject/resources/build-impl.xsl
@@ -116,29 +116,33 @@
             </target>
 
             <xsl:if test="/p:project/p:configuration/libs:libraries/libs:definitions">
-                <target name="-init-libraries" depends="-pre-init,-init-private">
-                    <xsl:for-each select="/p:project/p:configuration/libs:libraries/libs:definitions">
-                        <property name="libraries.{position()}.path" location="{.}"/>
-                        <dirname property="libraries.{position()}.dir.nativedirsep" file="${{libraries.{position()}.path}}"/>
-                        <!-- Do not want \ on Windows, since it would act as an escape char: -->
-                        <pathconvert property="libraries.{position()}.dir" dirsep="/">
-                            <path path="${{libraries.{position()}.dir.nativedirsep}}"/>
-                        </pathconvert>
-                        <basename property="libraries.{position()}.basename" file="${{libraries.{position()}.path}}" suffix=".properties"/>
-                        <touch file="${{libraries.{position()}.dir}}/${{libraries.{position()}.basename}}-private.properties"/> <!-- has to exist, yuck -->
-                        <loadproperties srcfile="${{libraries.{position()}.dir}}/${{libraries.{position()}.basename}}-private.properties" encoding="ISO-8859-1">
-                            <filterchain>
-                                <replacestring from="$${{base}}" to="${{libraries.{position()}.dir}}"/>
-                                <escapeunicode/>
-                            </filterchain>
-                        </loadproperties>
-                        <loadproperties srcfile="${{libraries.{position()}.path}}" encoding="ISO-8859-1">
-                            <filterchain>
-                                <replacestring from="$${{base}}" to="${{libraries.{position()}.dir}}"/>
-                                <escapeunicode/>
-                            </filterchain>
-                        </loadproperties>
-                    </xsl:for-each>
+                <target name="-pre-init-libraries">
+                    <property name="libraries.{position()}.path">
+                        <xsl:attribute name="location"><xsl:value-of select="/p:project/p:configuration/libs:libraries/libs:definitions"/></xsl:attribute>
+                    </property>
+                    <dirname property="libraries.{position()}.dir.nativedirsep" file="${{libraries.{position()}.path}}"/>
+                    <!-- Do not want \ on Windows, since it would act as an escape char: -->
+                    <pathconvert property="libraries.{position()}.dir" dirsep="/">
+                        <path path="${{libraries.{position()}.dir.nativedirsep}}"/>
+                    </pathconvert>
+                    <basename property="libraries.{position()}.basename" file="${{libraries.{position()}.path}}" suffix=".properties"/>
+                    <available property="private.properties.available" file="${{libraries.{position()}.dir}}/${{libraries.{position()}.basename}}-private.properties"/>
+                </target>
+                <target name="-init-libraries" depends="-pre-init,-init-private,-load-private-libraries">
+                    <loadproperties srcfile="${{libraries.{position()}.path}}" encoding="ISO-8859-1">
+                        <filterchain>
+                            <replacestring from="$${{base}}" to="${{libraries.{position()}.dir}}"/>
+                            <escapeunicode/>
+                        </filterchain>
+                    </loadproperties>
+                </target>
+                <target name="-load-private-libraries" depends="-pre-init-libraries" if="private.properties.available">
+                    <loadproperties srcfile="${{libraries.{position()}.dir}}/${{libraries.{position()}.basename}}-private.properties" encoding="ISO-8859-1">
+                        <filterchain>
+                            <replacestring from="$${{base}}" to="${{libraries.{position()}.dir}}"/>
+                            <escapeunicode/>
+                        </filterchain>
+                    </loadproperties>
                 </target>
             </xsl:if>