diff --git a/Src/exec.c b/Src/exec.c
index 2b8e2167f..be949049f 100644
--- a/Src/exec.c
+++ b/Src/exec.c
@@ -726,7 +726,7 @@ execute(LinkList args, int flags, int defpath)
 		(arg0[0] == '.' && (arg0 + 1 == s ||
 				    (arg0[1] == '.' && arg0 + 2 == s)))) {
 		zerr("%e: %s", lerrno, arg0);
-		_exit((lerrno == EACCES || lerrno == ENOEXEC) ? 126 : 127);
+		_exit((lerrno == 0 || lerrno == ENOENT) ? 127 : 126);
 	    }
 	    break;
 	}
@@ -805,7 +805,7 @@ execute(LinkList args, int flags, int defpath)
 	_realexit();
     else
 	zerr("command not found: %s", arg0);
-    _exit((eno == EACCES || eno == ENOEXEC) ? 126 : 127);
+    _exit((eno == 0 || eno == ENOENT) ? 127 : 126);
 }
 
 #define RET_IF_COM(X) { if (iscom(X)) return docopy ? dupstring(X) : arg0; }
diff --git a/Test/A05execution.ztst b/Test/A05execution.ztst
index edc561582..64fdd8288 100644
--- a/Test/A05execution.ztst
+++ b/Test/A05execution.ztst
@@ -394,3 +394,13 @@ F:anonymous function, and a descriptor leak when backgrounding a pipeline
 >127
 # TBD: the 0 above is believed to be bogus and should also be turned
 # into 127 when the ccorresponding bug is fixed in the main shell.
+
+# Test for exit status 126 when an external command's argument list is too long.
+  v=foo_bar_baz_quux_lorem_ipsum_dolor_sit_amet
+  while :; do
+    v=$v$v$v$v$v$v$v$v
+    env true $v || { print $?; break; }
+  done
+0:exit status when argument list too long
+>126
+?(eval):4: argument list too long: env