diff --git a/dll/win32/comctl32/propsheet.c b/dll/win32/comctl32/propsheet.c
index 746d66c8d7..94f12d2053 100644
--- a/dll/win32/comctl32/propsheet.c
+++ b/dll/win32/comctl32/propsheet.c
@@ -3434,12 +3434,7 @@ static LRESULT PROPSHEET_Paint(HWND hwnd, HDC hdcParam)
 
     if ( (ppshpage && (ppshpage->dwFlags & PSP_HIDEHEADER)) &&
 	 (psInfo->ppshheader.dwFlags & (PSH_WIZARD97_OLD | PSH_WIZARD97_NEW)) &&
-#ifdef __REACTOS__
-	 (psInfo->ppshheader.dwFlags & PSH_WATERMARK) &&
-	 (psInfo->ppshheader.u4.hbmWatermark) ) 
-#else
 	 (psInfo->ppshheader.dwFlags & PSH_WATERMARK) ) 
-#endif
     {
 	HWND hwndLine = GetDlgItem(hwnd, IDC_SUNKEN_LINE);	    
 
@@ -3450,6 +3445,9 @@ static LRESULT PROPSHEET_Paint(HWND hwnd, HDC hdcParam)
 	hbr = GetSysColorBrush(COLOR_WINDOW);
 	FillRect(hdc, &rzone, hbr);
 
+#ifdef __REACTOS__
+        if (!psInfo->ppshheader.u4.hbmWatermark) return 0;
+#endif
 	GetObjectW(psInfo->ppshheader.u4.hbmWatermark, sizeof(BITMAP), &bm);
 	hbmp = SelectObject(hdcSrc, psInfo->ppshheader.u4.hbmWatermark);