diff --git a/build.js b/build.js
index f0b8caa974..ce222f73b1 100755
--- a/build.js
+++ b/build.js
@@ -275,9 +275,8 @@
       "  var freeExports = typeof exports == 'object' && exports &&",
       "    (typeof global == 'object' && global && global == global.global && (window = global), exports);",
       '',
-      '  var templates = {};',
-      '',
-      '  var _ = window._;',
+      '  var templates = {},',
+      '      _ = window._;',
       ''
     ];
 
@@ -295,16 +294,14 @@
             precompiled = getFunctionSource(_.template(text, null, options)),
             prop = filename.replace(/\..*$/, '');
 
-        source.push("  templates['" + prop + "'] = " + precompiled + ';');
+        source.push("  templates['" + prop.replace(/'/g, "\\'") + "'] = " + precompiled + ';', '');
       }
     });
 
     source.push(
-      '',
       "  if (typeof define == 'function' && typeof define.amd == 'object' && define.amd) {",
       "    define(['" + moduleName + "'], function(lodash) {",
-      '      _ = lodash;',
-      '      _.templates = _.extend(_.templates || {}, templates);',
+      '      lodash.templates = lodash.extend(lodash.templates || {}, templates);',
       '    });',
       "  } else if (freeExports) {",
       "    if (typeof module == 'object' && module && module.exports == freeExports) {",
@@ -1382,7 +1379,7 @@
       if (isAMD && isGlobal) {
         source = source.replace(/(?: *\/\/.*\n)* *(?:else )?if *\(freeExports\) *{\s*}\n/, '');
       } else {
-        source = source.replace(/(?: *\/\/.*\n)* *(?:else )?if *\(freeExports\) *{\s*}(?:\s*else *{([\s\S]+?) *})?\n/, '$1');
+        source = source.replace(/(?: *\/\/.*\n)* *(?:else )?if *\(freeExports\) *{\s*}(?:\s*else *{([\s\S]+?) *})?\n/, '$1\n');
       }
 
       if ((source.match(/\bfreeExports\b/g) || []).length < 2) {
@@ -1511,8 +1508,9 @@
         'outputPath': outputPath,
         'onComplete': function(source) {
           // correct overly aggressive Closure Compiler minification
-          source = source.replace(/prototype\s*=\s*{\s*valueOf\s*:\s*1\s*}/, 'prototype={valueOf:1,y:1}');
-
+          if (!isTemplate) {
+            source = source.replace(/prototype\s*=\s*{\s*valueOf\s*:\s*1\s*}/, 'prototype={valueOf:1,y:1}');
+          }
           // inject "use strict" directive
           if (isStrict) {
             source = source.replace(/^(\/\*![\s\S]+?\*\/\n;\(function[^)]+\){)([^'"])/, '$1"use strict";$2');
diff --git a/build/minify.js b/build/minify.js
index 3fede079b5..e819b38c6a 100755
--- a/build/minify.js
+++ b/build/minify.js
@@ -119,7 +119,7 @@
     // use simple optimizations when minifying template files
     if (this.isTemplate) {
       options = options.map(function(value) {
-        return value.replace(/^(compilation_level)=.+$/, '$1=SIMPLE_OPTIMIZATIONS');
+        return value.replace(/^(--compilation_level)=.+$/, '$1=SIMPLE_OPTIMIZATIONS');
       });
     }
 
diff --git a/build/pre-compile.js b/build/pre-compile.js
index 76987dd1a0..b63f6cec10 100644
--- a/build/pre-compile.js
+++ b/build/pre-compile.js
@@ -215,7 +215,6 @@
     'take',
     'tap',
     'template',
-    'templates',
     'templateSettings',
     'throttle',
     'times',
diff --git a/test/test-build.js b/test/test-build.js
index e76c95dff7..bd704449cc 100644
--- a/test/test-build.js
+++ b/test/test-build.js
@@ -483,6 +483,29 @@
 
         equal(templates.a(data.a).replace(/[\r\n]+/g, ''), '<ul><li>moe</li><li>larry</li><li>curly</li></ul>', basename);
         equal(templates.b(data.b), 'Hello stooge.', basename);
+        delete _.templates;
+        start();
+      });
+    });
+
+    asyncTest('`lodash template=*.jst` exports=amd', function() {
+      var start = _.after(2, _.once(QUnit.start));
+
+      build(['-s', 'template=' + templatePath + '/*.jst', 'exports=amd'], function(source, filePath) {
+        var basename = path.basename(filePath, '.js'),
+            context = createContext(),
+            pass = false;
+
+        (context.define = function(requires, factory) {
+          factory(_);
+          var templates = _.templates;
+          pass = 'a' in templates && 'b' in templates;
+        })
+        .amd = {};
+
+        vm.runInContext(source, context);
+        ok(pass, basename);
+        delete _.templates;
         start();
       });
     });