diff --git a/include/boost/utility/value_init.hpp b/include/boost/utility/value_init.hpp
index a4e0034..4845cfb 100644
--- a/include/boost/utility/value_init.hpp
+++ b/include/boost/utility/value_init.hpp
@@ -5,7 +5,7 @@
 // http://www.boost.org/LICENSE_1_0.txt)
 //
 // 21 Ago 2002 (Created) Fernando Cacciola
-// 19 Jan 2008 (Worked around compiler bugs, added initialized_value) Fernando Cacciola, Niels Dekker
+// 30 Jan 2008 (Worked around compiler bugs, added initialized_value) Fernando Cacciola, Niels Dekker
 //
 #ifndef BOOST_UTILITY_VALUE_INIT_21AGO2002_HPP
 #define BOOST_UTILITY_VALUE_INIT_21AGO2002_HPP
@@ -37,13 +37,22 @@ class value_initialized
       remove_const<T>::type data;
     };
 
-    mutable aligned_storage<sizeof(wrapper), alignment_of<wrapper>::value> x;
+    mutable
+#if !BOOST_WORKAROUND(__BORLANDC__, BOOST_TESTED_AT(0x592))
+      typename
+#endif 
+      aligned_storage<sizeof(wrapper), alignment_of<wrapper>::value>::type x;
+
+    wrapper * wrapper_address() const
+    {
+      return static_cast<wrapper *>( static_cast<void*>(&x));
+    }
 
   public :
 
     value_initialized()
     {
-      std::memset(x.address(), 0, sizeof(x));
+      std::memset(&x, 0, sizeof(x));
 #ifdef BOOST_MSVC
 #pragma warning(push)
 #if _MSC_VER >= 1310
@@ -53,7 +62,7 @@ class value_initialized
 #pragma warning(disable: 4345)
 #endif
 #endif
-      new (x.address()) wrapper();
+      new (wrapper_address()) wrapper();
 #ifdef BOOST_MSVC
 #pragma warning(pop)
 #endif
@@ -61,24 +70,23 @@ class value_initialized
 
     value_initialized(value_initialized const & arg)
     {
-      new (x.address()) wrapper( *static_cast<wrapper const *>(arg.x.address()) );
+      new (wrapper_address()) wrapper( static_cast<wrapper const &>(*(arg.wrapper_address())));
     }
 
     value_initialized & operator=(value_initialized const & arg)
     {
-      T const & arg_data = arg.data();
-      this->data() = arg_data;
+      this->data() = static_cast<T const &>( arg.data() );
       return *this;
     }
 
     ~value_initialized()
     {
-      static_cast<wrapper *>(x.address())->wrapper::~wrapper();
+      wrapper_address()->wrapper::~wrapper();
     }
 
     T& data() const
     {
-      return static_cast<wrapper *>(x.address())->data;
+      return wrapper_address()->data;
     }
 
     operator T&() const { return this->data(); }