diff --git a/gulpfile.js b/gulpfile.js
index 2fe69353b2..3ac02c625b 100644
--- a/gulpfile.js
+++ b/gulpfile.js
@@ -16,6 +16,7 @@ var madge = require('madge');
 var merge = require('merge');
 var merge2 = require('merge2');
 var path = require('path');
+var licenseWrap = require('./tools/build/licensewrap');
 
 var watch = require('./tools/build/watch');
 
@@ -951,13 +952,29 @@ gulp.task('bundle.js.min.deps', ['bundle.js.min'], function() {
 });
 
 var JS_DEV_DEPS = [
+    licenseWrap('node_modules/zone.js/LICENSE', true),
     'node_modules/zone.js/dist/zone-microtask.js',
     'node_modules/zone.js/dist/long-stack-trace-zone.js',
-    'node_modules/reflect-metadata/Reflect.js'
+    licenseWrap('node_modules/reflect-metadata/LICENSE', true),
+    'node_modules/reflect-metadata/Reflect.js',
+    // traceur-runtime is always first in the bundle
+    licenseWrap('node_modules/traceur/LICENSE', true)
 ];
 
+// Splice in RX license if rx is in the bundle.
+function insertRXLicense(source) {
+  var n = source.indexOf('System.register("rx"');
+  if (n >= 0) {
+    var rxLicense = licenseWrap('node_modules/rx/license.txt');
+    return source.slice(0, n) + rxLicense + source.slice(n);
+  } else {
+    return source;
+  }
+}
+
 gulp.task('bundle.js.dev.deps', ['bundle.js.dev'], function() {
   return bundler.modify(JS_DEV_DEPS.concat(['dist/build/angular2.dev.js']), 'angular2.dev.js')
+      .pipe(insert.transform(insertRXLicense))
       .pipe(insert.append('\nSystem.config({"paths":{"*":"*.js","angular2/*":"angular2/*"}});\n'))
       .pipe(gulp.dest('dist/bundle'));
 });
@@ -965,6 +982,7 @@ gulp.task('bundle.js.dev.deps', ['bundle.js.dev'], function() {
 gulp.task('bundle.js.sfx.dev.deps', ['bundle.js.sfx.dev'], function() {
   return bundler.modify(JS_DEV_DEPS.concat(['dist/build/angular2.sfx.dev.js']),
                         'angular2.sfx.dev.js')
+      .pipe(insert.transform(insertRXLicense))
       .pipe(gulp.dest('dist/bundle'));
 });
 
diff --git a/tools/build/licensewrap.js b/tools/build/licensewrap.js
new file mode 100644
index 0000000000..3d87830070
--- /dev/null
+++ b/tools/build/licensewrap.js
@@ -0,0 +1,12 @@
+var fs = require('fs');
+module.exports = function(licenseFile, outputFile) {
+  var licenseText = fs.readFileSync(licenseFile);
+  var license = "/**\n @license\n" + licenseText + "\n */\n";
+  if (outputFile) {
+    outputFile = licenseFile + '.wrapped';
+    fs.writeFileSync(outputFile, license, 'utf8');
+    return outputFile;
+  } else {
+    return license;
+  }
+};