diff --git a/lib/marked.js b/lib/marked.js
index ae1783f8..5bcb214c 100644
--- a/lib/marked.js
+++ b/lib/marked.js
@@ -323,22 +323,24 @@ inline.lexer = function(str) {
         break;
       case 'link':
       case 'reflink':
-        if (cap[0][0] !== '!') {
-          if (key === 'reflink') {
-            link = links[cap[2]] || links[cap[1]];
-            if (!link) {
-              out += cap[0];
-              break;
-            }
-            //if (!link) throw new 
-            //  Error('Undefined Reference: ' + cap[2]);
-          } else {
-            text = /^\s*([^\s]*)(?:\s+"([^"]+)")?\s*$/.exec(cap[2]);
-            link = {
-              href: text[1],
-              title: text[2]
-            };
+        if (key === 'reflink') {
+          link = links[cap[2]] || links[cap[1]];
+          if (!link) {
+            // apparently markdown says you're
+            // supposed to do this ...?
+            out += cap[0];
+            break;
           }
+          //if (!link) throw new 
+          //  Error('Undefined Reference: ' + cap[2]);
+        } else {
+          text = /^\s*([^\s]*)(?:\s+"([^"]+)")?\s*$/.exec(cap[2]);
+          link = {
+            href: text[1],
+            title: text[2]
+          };
+        }
+        if (cap[0][0] !== '!') {
           out += '<a href="' 
             + escape(link.href) 
             + '"' 
@@ -351,17 +353,6 @@ inline.lexer = function(str) {
             + inline.lexer(cap[1])
             + '</a>';
         } else {
-          if (key === 'reflink') {
-            link = links[cap[2]];
-            if (!link) throw new 
-              Error('Undefined Reference: ' + cap[2]);
-          } else {
-            text = /^\s*([^\s]*)(?:\s+"([^"]+)")?\s*$/.exec(cap[2]);
-            link = {
-              href: text[1],
-              title: text[2]
-            };
-          }
           out += '<img src="' 
             + escape(link.href)
             + '" alt="'