diff --git a/compiler/frontend/src/org/jetbrains/jet/lang/resolve/lazy/storage/LockBasedStorageManager.java b/compiler/frontend/src/org/jetbrains/jet/lang/resolve/lazy/storage/LockBasedStorageManager.java
index 9a168659163..28f641d2a9e 100644
--- a/compiler/frontend/src/org/jetbrains/jet/lang/resolve/lazy/storage/LockBasedStorageManager.java
+++ b/compiler/frontend/src/org/jetbrains/jet/lang/resolve/lazy/storage/LockBasedStorageManager.java
@@ -29,7 +29,8 @@ import org.jetbrains.jet.lang.resolve.BindingContext;
 import org.jetbrains.jet.lang.resolve.BindingTrace;
 import org.jetbrains.jet.util.slicedmap.ReadOnlySlice;
 import org.jetbrains.jet.util.slicedmap.WritableSlice;
-import org.jetbrains.jet.utils.Nulls;
+import org.jetbrains.jet.utils.ExceptionUtils;
+import org.jetbrains.jet.utils.WrappedValues;
 
 import java.util.Collection;
 import java.util.concurrent.ConcurrentHashMap;
@@ -132,18 +133,22 @@ public class LockBasedStorageManager implements StorageManager {
         @Override
         public T compute() {
             Object _value = value;
-            if (_value != null) return Nulls.unescape(_value);
+            if (_value != null) return WrappedValues.unescapeExceptionOrNull(_value);
 
             synchronized (lock) {
                 _value = value;
-                if (_value != null) return Nulls.unescape(_value);
+                if (_value != null) return WrappedValues.unescapeExceptionOrNull(_value);
 
-                T typedValue = computable.compute();
-                value = Nulls.escape(typedValue);
-
-                postCompute(typedValue);
-
-                return typedValue;
+                try {
+                    T typedValue = computable.compute();
+                    value = WrappedValues.escapeNull(typedValue);
+                    postCompute(typedValue);
+                    return typedValue;
+                }
+                catch (Throwable throwable) {
+                    value = WrappedValues.escapeThrowable(throwable);
+                    throw ExceptionUtils.rethrow(throwable);
+                }
             }
         }
 
@@ -182,18 +187,25 @@ public class LockBasedStorageManager implements StorageManager {
         @Nullable
         public V fun(@NotNull K input) {
             Object value = cache.get(input);
-            if (value != null) return Nulls.unescape(value);
+            if (value != null) return WrappedValues.unescapeExceptionOrNull(value);
 
             synchronized (lock) {
                 value = cache.get(input);
-                if (value != null) return Nulls.unescape(value);
+                if (value != null) return WrappedValues.unescapeExceptionOrNull(value);
 
-                V typedValue = compute.fun(input);
+                try {
+                    V typedValue = compute.fun(input);
+                    Object oldValue = cache.put(input, WrappedValues.escapeNull(typedValue));
+                    assert oldValue == null : "Race condition detected";
 
-                Object oldValue = cache.put(input, Nulls.escape(typedValue));
-                assert oldValue == null : "Race condition detected";
+                    return typedValue;
+                }
+                catch (Throwable throwable) {
+                    Object oldValue = cache.put(input, WrappedValues.escapeThrowable(throwable));
+                    assert oldValue == null : "Race condition detected";
 
-                return typedValue;
+                    throw ExceptionUtils.rethrow(throwable);
+                }
             }
         }
     }
diff --git a/compiler/util/src/org/jetbrains/jet/utils/ExceptionUtils.java b/compiler/util/src/org/jetbrains/jet/utils/ExceptionUtils.java
index 7bab6725705..0bd9ce2f216 100644
--- a/compiler/util/src/org/jetbrains/jet/utils/ExceptionUtils.java
+++ b/compiler/util/src/org/jetbrains/jet/utils/ExceptionUtils.java
@@ -20,6 +20,9 @@ import java.io.Closeable;
 
 public class ExceptionUtils {
 
+    private ExceptionUtils() {
+    }
+
     /**
      * Translate exception to unchecked exception.
      *
@@ -43,7 +46,7 @@ public class ExceptionUtils {
         if (closeable != null) {
             try {
                 closeable.close();
-            } catch (Throwable e) {
+            } catch (Throwable ignored) {
             }
         }
     }
diff --git a/compiler/util/src/org/jetbrains/jet/utils/NullableMemoizedFunction.java b/compiler/util/src/org/jetbrains/jet/utils/NullableMemoizedFunction.java
index 2a49b2ab30d..867944d6ced 100644
--- a/compiler/util/src/org/jetbrains/jet/utils/NullableMemoizedFunction.java
+++ b/compiler/util/src/org/jetbrains/jet/utils/NullableMemoizedFunction.java
@@ -50,11 +50,11 @@ public abstract class NullableMemoizedFunction<K, V> implements NullableFunction
     @Nullable
     public V fun(@NotNull K input) {
         Object value = cache.get(input);
-        if (value != null) return Nulls.unescape(value);
+        if (value != null) return WrappedValues.unescapeNull(value);
 
         V typedValue = compute(input);
 
-        Object oldValue = cache.put(input, Nulls.escape(typedValue));
+        Object oldValue = cache.put(input, WrappedValues.escapeNull(typedValue));
         assert oldValue == null : "Race condition detected";
 
         return typedValue;
diff --git a/compiler/util/src/org/jetbrains/jet/utils/Nulls.java b/compiler/util/src/org/jetbrains/jet/utils/WrappedValues.java
similarity index 52%
rename from compiler/util/src/org/jetbrains/jet/utils/Nulls.java
rename to compiler/util/src/org/jetbrains/jet/utils/WrappedValues.java
index b5ce971d636..c345808d833 100644
--- a/compiler/util/src/org/jetbrains/jet/utils/Nulls.java
+++ b/compiler/util/src/org/jetbrains/jet/utils/WrappedValues.java
@@ -19,19 +19,49 @@ package org.jetbrains.jet.utils;
 import org.jetbrains.annotations.NotNull;
 import org.jetbrains.annotations.Nullable;
 
-public class Nulls {
+public class WrappedValues {
     private static final Object NULL_VALUE = new Object();
 
+    private final static class ThrowableWrapper {
+        private final Throwable throwable;
+
+        private ThrowableWrapper(@NotNull Throwable throwable) {
+            this.throwable = throwable;
+        }
+
+        @NotNull
+        public Throwable getThrowable() {
+            return throwable;
+        }
+    }
+
+    private WrappedValues() {
+    }
+
     @Nullable
     @SuppressWarnings("unchecked")
-    public static <V> V unescape(@NotNull Object value) {
+    public static <V> V unescapeNull(@NotNull Object value) {
         if (value == NULL_VALUE) return null;
         return (V) value;
     }
 
     @NotNull
-    public static <V> Object escape(@Nullable V value) {
+    public static <V> Object escapeNull(@Nullable V value) {
         if (value == null) return NULL_VALUE;
         return value;
     }
+
+    @NotNull
+    public static Object escapeThrowable(@NotNull Throwable throwable) {
+        return new ThrowableWrapper(throwable);
+    }
+
+    @Nullable
+    public static <V> V unescapeExceptionOrNull(@NotNull Object value) {
+        if (value instanceof ThrowableWrapper) {
+            throw ExceptionUtils.rethrow(((ThrowableWrapper) value).getThrowable());
+        }
+
+        return unescapeNull(value);
+    }
 }