diff -r 566414d7ba1f -r d6d9211e9aab stage4/generate_c/generate_c_base.cc
--- a/stage4/generate_c/generate_c_base.cc	Sat Oct 25 13:20:10 2014 +0100
+++ b/stage4/generate_c/generate_c_base.cc	Sun Nov 09 22:02:34 2014 +0000
@@ -726,7 +726,7 @@
 void *visit(direct_variable_c *symbol) {
   TRACE("direct_variable_c");
   /* Do not use print_token() as it will change everything into uppercase */
-  return s4o.printlocation(symbol->value);
+  return s4o.printlocation(symbol->value+1); // '+1' so we do not print the '%' in '%IW3.2'
 }