diff --git a/org.springframework.context/src/main/java/org/springframework/scheduling/annotation/ScheduledAnnotationBeanPostProcessor.java b/org.springframework.context/src/main/java/org/springframework/scheduling/annotation/ScheduledAnnotationBeanPostProcessor.java
index 6b2c4ab675..a4d1a410d8 100644
--- a/org.springframework.context/src/main/java/org/springframework/scheduling/annotation/ScheduledAnnotationBeanPostProcessor.java
+++ b/org.springframework.context/src/main/java/org/springframework/scheduling/annotation/ScheduledAnnotationBeanPostProcessor.java
@@ -1,5 +1,5 @@
 /*
- * Copyright 2002-2009 the original author or authors.
+ * Copyright 2002-2010 the original author or authors.
  *
  * Licensed under the Apache License, Version 2.0 (the "License");
  * you may not use this file except in compliance with the License.
@@ -27,6 +27,7 @@ import org.springframework.beans.factory.config.BeanPostProcessor;
 import org.springframework.context.ApplicationContext;
 import org.springframework.context.ApplicationContextAware;
 import org.springframework.context.ApplicationListener;
+import org.springframework.context.ConfigurableApplicationContext;
 import org.springframework.context.event.ContextRefreshedEvent;
 import org.springframework.core.Ordered;
 import org.springframework.core.annotation.AnnotationUtils;
@@ -113,6 +114,10 @@ public class ScheduledAnnotationBeanPostProcessor implements BeanPostProcessor,
 					String cron = annotation.cron();
 					if (!"".equals(cron)) {
 						processedSchedule = true;
+						if (applicationContext instanceof ConfigurableApplicationContext) {
+							cron = ((ConfigurableApplicationContext) applicationContext)
+									.getBeanFactory().resolveEmbeddedValue(cron);
+						}
 						cronTasks.put(runnable, cron);
 					}
 					long fixedDelay = annotation.fixedDelay();
diff --git a/org.springframework.context/src/test/java/org/springframework/scheduling/annotation/ScheduledAnnotationBeanPostProcessorTests.java b/org.springframework.context/src/test/java/org/springframework/scheduling/annotation/ScheduledAnnotationBeanPostProcessorTests.java
index bf8aec23fa..47e59a6357 100644
--- a/org.springframework.context/src/test/java/org/springframework/scheduling/annotation/ScheduledAnnotationBeanPostProcessorTests.java
+++ b/org.springframework.context/src/test/java/org/springframework/scheduling/annotation/ScheduledAnnotationBeanPostProcessorTests.java
@@ -23,12 +23,14 @@ import java.lang.annotation.Retention;
 import java.lang.annotation.RetentionPolicy;
 import java.lang.annotation.Target;
 import java.util.Map;
+import java.util.Properties;
 
 import org.junit.Test;
 
 import org.springframework.beans.DirectFieldAccessor;
 import org.springframework.beans.factory.BeanCreationException;
 import org.springframework.beans.factory.config.BeanDefinition;
+import org.springframework.beans.factory.config.PropertyPlaceholderConfigurer;
 import org.springframework.beans.factory.support.RootBeanDefinition;
 import org.springframework.context.support.StaticApplicationContext;
 import org.springframework.scheduling.config.ScheduledTaskRegistrar;
@@ -160,6 +162,66 @@ public class ScheduledAnnotationBeanPostProcessorTests {
 		assertEquals("0 0 * * * ?", cronTasks.values().iterator().next());
 	}
 
+	@Test
+	public void propertyPlaceholderWithCronExpression() {
+		String businessHoursCronExpression = "0 0 9-17 * * MON-FRI";
+		StaticApplicationContext context = new StaticApplicationContext();
+		BeanDefinition processorDefinition = new RootBeanDefinition(ScheduledAnnotationBeanPostProcessor.class);
+		BeanDefinition placeholderDefinition = new RootBeanDefinition(PropertyPlaceholderConfigurer.class);
+		Properties properties = new Properties();
+		properties.setProperty("schedules.businessHours", businessHoursCronExpression);
+		placeholderDefinition.getPropertyValues().addPropertyValue("properties", properties);
+		BeanDefinition targetDefinition = new RootBeanDefinition(
+				ScheduledAnnotationBeanPostProcessorTests.PropertyPlaceholderTestBean.class);
+		context.registerBeanDefinition("placeholder", placeholderDefinition);
+		context.registerBeanDefinition("postProcessor", processorDefinition);
+		context.registerBeanDefinition("target", targetDefinition);
+		context.refresh();
+		Object postProcessor = context.getBean("postProcessor");
+		Object target = context.getBean("target");
+		ScheduledTaskRegistrar registrar = (ScheduledTaskRegistrar)
+				new DirectFieldAccessor(postProcessor).getPropertyValue("registrar");
+		Map<Runnable, String> cronTasks = (Map<Runnable, String>)
+				new DirectFieldAccessor(registrar).getPropertyValue("cronTasks");
+		assertEquals(1, cronTasks.size());
+		MethodInvokingRunnable runnable = (MethodInvokingRunnable) cronTasks.keySet().iterator().next();
+		Object targetObject = runnable.getTargetObject();
+		String targetMethod = runnable.getTargetMethod();
+		assertEquals(target, targetObject);
+		assertEquals("x", targetMethod);
+		assertEquals(businessHoursCronExpression, cronTasks.values().iterator().next());
+	}
+
+	@Test
+	public void propertyPlaceholderForMetaAnnotation() {
+		String businessHoursCronExpression = "0 0 9-17 * * MON-FRI";
+		StaticApplicationContext context = new StaticApplicationContext();
+		BeanDefinition processorDefinition = new RootBeanDefinition(ScheduledAnnotationBeanPostProcessor.class);
+		BeanDefinition placeholderDefinition = new RootBeanDefinition(PropertyPlaceholderConfigurer.class);
+		Properties properties = new Properties();
+		properties.setProperty("schedules.businessHours", businessHoursCronExpression);
+		placeholderDefinition.getPropertyValues().addPropertyValue("properties", properties);
+		BeanDefinition targetDefinition = new RootBeanDefinition(
+				ScheduledAnnotationBeanPostProcessorTests.PropertyPlaceholderMetaAnnotationTestBean.class);
+		context.registerBeanDefinition("postProcessor", processorDefinition);
+		context.registerBeanDefinition("placeholder", placeholderDefinition);
+		context.registerBeanDefinition("target", targetDefinition);
+		context.refresh();
+		Object postProcessor = context.getBean("postProcessor");
+		Object target = context.getBean("target");
+		ScheduledTaskRegistrar registrar = (ScheduledTaskRegistrar)
+				new DirectFieldAccessor(postProcessor).getPropertyValue("registrar");
+		Map<Runnable, String> cronTasks = (Map<Runnable, String>)
+				new DirectFieldAccessor(registrar).getPropertyValue("cronTasks");
+		assertEquals(1, cronTasks.size());
+		MethodInvokingRunnable runnable = (MethodInvokingRunnable) cronTasks.keySet().iterator().next();
+		Object targetObject = runnable.getTargetObject();
+		String targetMethod = runnable.getTargetMethod();
+		assertEquals(target, targetObject);
+		assertEquals("y", targetMethod);
+		assertEquals(businessHoursCronExpression, cronTasks.values().iterator().next());
+	}
+
 	@Test(expected = BeanCreationException.class)
 	public void emptyAnnotation() {
 		StaticApplicationContext context = new StaticApplicationContext();
@@ -296,4 +358,26 @@ public class ScheduledAnnotationBeanPostProcessorTests {
 		}
 	}
 
+
+	private static class PropertyPlaceholderTestBean {
+
+		@Scheduled(cron = "${schedules.businessHours}")
+		public void x() {
+		}
+	}
+
+
+	@Scheduled(cron = "${schedules.businessHours}")
+	@Target(ElementType.METHOD)
+	@Retention(RetentionPolicy.RUNTIME)	
+	private static @interface BusinessHours {}
+
+
+	private static class PropertyPlaceholderMetaAnnotationTestBean {
+
+		@BusinessHours
+		public void y() {
+		}
+	}
+
 }