diff --git a/projects/samskivert/src/java/com/samskivert/velocity/FormTool.java b/projects/samskivert/src/java/com/samskivert/velocity/FormTool.java
index b931ce44..f3dcc868 100644
--- a/projects/samskivert/src/java/com/samskivert/velocity/FormTool.java
+++ b/projects/samskivert/src/java/com/samskivert/velocity/FormTool.java
@@ -345,7 +345,9 @@ public class FormTool
             buf.append(" ").append(extra);
         }
         buf.append(">");
-        buf.append(value);
+        if (value != null) {
+            buf.append(value);
+        }
         buf.append("</textarea>");
         return buf.toString();
     }