diff --git a/mcs/mcs/expression.cs b/mcs/mcs/expression.cs
index d4e253125b505f18b6a7e5280c94710f75c44eba..26b4540fde6dc5af5dcc4ab869b8d2ff892d68a5 100644
--- a/mcs/mcs/expression.cs
+++ b/mcs/mcs/expression.cs
@@ -5833,7 +5833,6 @@ namespace Mono.CSharp {
 			if (initializers == null)
 				return true;
 
-			only_constant_initializers = true;
 			for (int i = 0; i < probe.Count; ++i) {
 				var o = probe [i];
 				if (o is ArrayInitializer) {
@@ -5941,6 +5940,8 @@ namespace Mono.CSharp {
 
 		protected bool ResolveInitializers (ResolveContext ec)
 		{
+			only_constant_initializers = true;
+
 			if (arguments != null) {
 				bool res = true;
 				for (int i = 0; i < arguments.Count; ++i) {
diff --git a/mcs/tests/test-539.cs b/mcs/tests/test-539.cs
new file mode 100644
index 0000000000000000000000000000000000000000..2b93801f62e6b04a745d4c3e59ca50cce58ac2b8
--- /dev/null
+++ b/mcs/tests/test-539.cs
@@ -0,0 +1,24 @@
+// Compiler options: -optimize
+using System;
+
+class Test
+{
+	static int Main ()
+	{
+		//switching to a constant fixes the problem
+		double thisIsCausingTheProblem = 5.0;
+
+		double[,] m1 = new double[4, 4] {
+			{ 1.0, 0.0, 0.0, thisIsCausingTheProblem },
+			{ 0.0, 1.0, 0.0, thisIsCausingTheProblem },
+			{ 0.0, 0.0, 1.0, thisIsCausingTheProblem },
+			{ 0.0, 0.0, 0.0, 1.0 }
+		};
+
+		var r = m1[0, 3];
+		if (r != 5)
+			return 1;
+
+		return 0;
+	}
+}