diff --git a/ChangeLog b/ChangeLog
index feeba53a..cb263026 100644
--- a/ChangeLog
+++ b/ChangeLog
@@ -5,6 +5,7 @@ Changes in 1.4.13-stable:
  o Do not drop data from evbuffer when out of memory; reported by Jacek Masiulaniec
  o Rename our replacement compat/sys/_time.h header to avoid build a conflict on HPUX; reported by Kathryn Hogg.
  o Build kqueue.c correctly on GNU/kFreeBSD platforms. Patch pulled upstream from Debian.
+ o Fix a problem with excessive memory allocation when using multiple event priorities.
 
 
 Changes in 1.4.12-stable:
diff --git a/event.c b/event.c
index ce57a221..7bfdceb0 100644
--- a/event.c
+++ b/event.c
@@ -326,8 +326,8 @@ event_base_priority_init(struct event_base *base, int npriorities)
 
 	/* Allocate our priority queues */
 	base->nactivequeues = npriorities;
-	base->activequeues = (struct event_list **)calloc(base->nactivequeues,
-	    npriorities * sizeof(struct event_list *));
+	base->activequeues = (struct event_list **)
+	    calloc(base->nactivequeues, sizeof(struct event_list *));
 	if (base->activequeues == NULL)
 		event_err(1, "%s: calloc", __func__);