diff --git a/src/osg/Referenced.cpp b/src/osg/Referenced.cpp
index 7e59d6046..520759027 100644
--- a/src/osg/Referenced.cpp
+++ b/src/osg/Referenced.cpp
@@ -282,7 +282,11 @@ ObserverSet* Referenced::getOrCreateObserverSet() const
     }
     else
     {
-        if (!_observerSet) _observerSet = new ObserverSet(this);
+        if (!_observerSet)
+        {
+            _observerSet = new ObserverSet(this);
+            static_cast<ObserverSet*>(_observerSet)->ref();
+        }
         return static_cast<ObserverSet*>(_observerSet);
     }
 #endif