diff --git a/src/avm1/context.ts b/src/avm1/context.ts
index 51d2dbe8f..96267019c 100644
--- a/src/avm1/context.ts
+++ b/src/avm1/context.ts
@@ -34,7 +34,9 @@ module Shumway.AVM1 {
   }
 
   export interface IAVM1RuntimeUtils {
+    hasProperty(obj, name);
     getProperty(obj, name);
+    setProperty(obj, name, value);
   }
 
   export class AVM1Context {
diff --git a/src/avm1/flash.d.ts b/src/avm1/flash.d.ts
index ff82e56d1..4e11f5253 100644
--- a/src/avm1/flash.d.ts
+++ b/src/avm1/flash.d.ts
@@ -51,6 +51,7 @@ declare module Shumway.AVM2.AS.flash {
       _mouseDown: boolean;
       _children: DisplayObject [];
       _depth: number;
+      _symbol: DisplaySymbol;
       getBounds(obj: DisplayObject): flash.geom.Rectangle;
       play();
       stop();
@@ -129,9 +130,7 @@ declare module Shumway.AVM2.AS.flash {
       constructor();
     }
     class SimpleButton extends DisplayObject {
-      _symbol: {
-        data: {buttonActions: Shumway.Timeline.AVM1ButtonAction[]}
-      }
+      _symbol: ButtonSymbol;
     }
 
     class Stage extends DisplayObject {
@@ -144,8 +143,12 @@ declare module Shumway.AVM2.AS.flash {
       stageHeight: number;
     }
 
-    class BitmapSymbol {}
-    class SpriteSymbol {
+    class DisplaySymbol {}
+    class BitmapSymbol extends DisplaySymbol {}
+    class ButtonSymbol extends DisplaySymbol {
+      data: { buttonActions: Shumway.Timeline.AVM1ButtonAction[] }
+    }
+    class SpriteSymbol extends DisplaySymbol {
       avm1Name: string;
       avm1SymbolClass;
     }
@@ -276,10 +279,14 @@ declare module Shumway.AVM2.AS.flash {
       textWidth: number;
       textHeight: number;
       defaultTextFormat: TextFormat;
+      _symbol: TextSymbol;
     }
     class TextFormat extends ASNative {
       constructor(...args);
     }
+    class TextSymbol extends display.DisplaySymbol {
+      variableName: string;
+    }
   }
   module ui {
     class ContextMenu extends ASNative {}
diff --git a/src/avm1/interpreter.ts b/src/avm1/interpreter.ts
index df1dd9b82..aec7569f9 100644
--- a/src/avm1/interpreter.ts
+++ b/src/avm1/interpreter.ts
@@ -197,10 +197,27 @@ module Shumway.AVM1 {
       this.errorsIgnored = 0;
       this.deferScriptExecution = true;
       this.pendingScripts = [];
+
+      var context = this;
       this.utils = {
+        hasProperty(obj, name) {
+          var result: boolean;
+          context.enterContext(function () {
+            result = as2HasProperty(obj, name);
+          }, obj);
+          return result;
+        },
         getProperty(obj, name) {
-          var resolved = avm1ResolveProperty(obj, name, false);
-          return resolved ? resolved.link.asGetPublicProperty(name) : undefined;
+          var result;
+          context.enterContext(function () {
+            result = as2GetProperty(obj, name);
+          }, obj);
+          return result;
+        },
+        setProperty(obj, name, value) {
+          context.enterContext(function () {
+            as2SetProperty(obj, name, value);
+          }, obj);
         }
       };
     }
@@ -554,6 +571,11 @@ module Shumway.AVM1 {
     // versions 6 and below ignore identifier case
     if (isNumeric(name) ||
         as2GetCurrentSwfVersion() > 6) {
+      if (normalize) {
+        __resolvePropertyResult.link = obj;
+        __resolvePropertyResult.name = name;
+        return __resolvePropertyResult;
+      }
       return null;
     }
 
@@ -596,18 +618,26 @@ module Shumway.AVM1 {
     return null;
   }
 
+  function as2ResolveProperty(obj, name: string, normalize: boolean): string {
+    var resolved = avm1ResolveProperty(obj, name, normalize);
+    return resolved ? resolved.name : null;
+  }
+
   function as2HasProperty(obj, name: string): boolean {
     return !!avm1ResolveProperty(obj, name, false);
   }
 
-  function as2ResolveProperty(obj, name: string, normalize: boolean): string {
-    var result = avm1ResolveProperty(obj, name, normalize);
-    return result ? result.name : null;
+  function as2GetProperty(obj, name: string): any {
+    var resolved = avm1ResolveProperty(obj, name, false);
+    return resolved ? resolved.link.asGetPublicProperty(resolved.name) : undefined;
   }
 
-  function as2GetProperty(obj, name: string): any {
-    var result = avm1ResolveProperty(obj, name, false);
-    return result ? result.link.asGetPublicProperty(name) : undefined;
+  function as2SetProperty(obj, name: string, value: any): any {
+    var resolved = avm1ResolveProperty(obj, name, true);
+    if (!resolved) {
+      return; // probably obj is undefined or null
+    }
+    resolved.link.asSetPublicProperty(resolved.name, value);
   }
 
   function as2CastError(ex) {
diff --git a/src/avm1/lib/AVM1TextField.ts b/src/avm1/lib/AVM1TextField.ts
index e71f9adda..744cae0b7 100644
--- a/src/avm1/lib/AVM1TextField.ts
+++ b/src/avm1/lib/AVM1TextField.ts
@@ -39,13 +39,20 @@ module Shumway.AVM1.Lib {
       return wrapped;
     }
 
-    _variable: string;
+    private _variable: string;
+    private _exitFrameHandler: (event: flash.events.Event) => void;
 
-    public initAVM1Instance(as2Object: flash.text.TextField, context: AVM1Context) {
-      super.initAVM1Instance(as2Object, context);
+
+    public initAVM1Instance(as3Object: flash.text.TextField, context: AVM1Context) {
+      super.initAVM1Instance(as3Object, context);
 
       this._variable = '';
+      this._exitFrameHandler = null;
       initDefaultListeners(this);
+
+      if (as3Object._symbol) {
+        this.variable = as3Object._symbol.variableName || '';
+      }
     }
 
     public get _alpha() {
@@ -351,14 +358,33 @@ module Shumway.AVM1.Lib {
       if (name === this._variable) {
         return;
       }
-      this._variable = name;
       var instance = this.as3Object;
-      var hasPath = name.indexOf('.') >= 0 || name.indexOf(':') >= 0;
+      if (this._exitFrameHandler && !name) {
+        instance.removeEventListener('exitFrame', this._exitFrameHandler);
+        this._exitFrameHandler = null;
+      }
+      this._variable = name;
+      if (!this._exitFrameHandler && name) {
+        this._exitFrameHandler = this._onAS3ObjectExitFrame.bind(this);
+        instance.addEventListener('exitFrame', this._exitFrameHandler);
+      }
+    }
+
+    private _onAS3ObjectExitFrame() {
+      this._syncTextFieldValue(this.as3Object, this._variable);
+    }
+
+    private _syncTextFieldValue(instance, name) {
       var clip;
+      var hasPath = name.indexOf('.') >= 0 || name.indexOf(':') >= 0;
+      var avm1ContextUtils = this.context.utils;
       if (hasPath) {
         var targetPath = name.split(/[.:\/]/g);
         name = targetPath.pop();
         if (targetPath[0] == '_root' || targetPath[0] === '') {
+          if (instance.root === null) {
+            return; // text field is not part of the stage yet
+          }
           clip = getAVM1Object(instance.root, this.context);
           targetPath.shift();
           if (targetPath[0] === '') {
@@ -369,20 +395,20 @@ module Shumway.AVM1.Lib {
         }
         while (targetPath.length > 0) {
           var childName = targetPath.shift();
-          clip = clip.asGetPublicProperty(childName) || clip[childName];
+          clip = avm1ContextUtils.getProperty(clip, childName);
           if (!clip) {
-            throw new Error('Cannot find ' + childName + ' variable');
+            return; // cannot find child clip
           }
         }
       } else {
         clip = getAVM1Object(instance._parent, this.context);
       }
-      if (!clip.asHasProperty(undefined, name, 0)) {
-        clip.asSetPublicProperty(name, instance.text);
+      // Sets default values as defined in SWF if this property was not found.
+      if (!avm1ContextUtils.hasProperty(clip, name)) {
+        avm1ContextUtils.setProperty(clip, name, instance.text);
       }
-      instance.addEventListener('advanceFrame', function () {
-        instance.text = '' + clip.asGetPublicProperty(name);
-      });
+
+      instance.text = '' + avm1ContextUtils.getProperty(clip, name);
     }
 
     public get _visible() {
diff --git a/test/swfs/avm1/text-bind/text-bind-1.fla b/test/swfs/avm1/text-bind/text-bind-1.fla
new file mode 100644
index 000000000..6f89fec76
Binary files /dev/null and b/test/swfs/avm1/text-bind/text-bind-1.fla differ
diff --git a/test/swfs/avm1/text-bind/text-bind-1.swf b/test/swfs/avm1/text-bind/text-bind-1.swf
new file mode 100644
index 000000000..a82337951
Binary files /dev/null and b/test/swfs/avm1/text-bind/text-bind-1.swf differ
diff --git a/test/test_manifest.json b/test/test_manifest.json
index 1de931c3e..85abbe982 100644
--- a/test/test_manifest.json
+++ b/test/test_manifest.json
@@ -447,6 +447,11 @@
       "swf": "/examples/textfield/align.swf",
       "type": "eq"
     },
+    {  "id": "text-bind-ref",
+      "frames": [3],
+      "swf": "swfs/avm1/text-bind/text-bind-1.swf",
+      "type": "eq"
+    },
     {  "id": "as3-loader",
       "stas": "swfs/trace.stas",
       "filenames": [