diff --git a/lisp/org.el b/lisp/org.el
index ecd84e9..85e7ce5 100644
--- a/lisp/org.el
+++ b/lisp/org.el
@@ -9930,14 +9930,29 @@ This command can be called in any mode to insert a link in Org-mode syntax."
   (org-load-modules-maybe)
   (org-run-like-in-org-mode 'org-insert-link))
 
-(defun org-insert-all-links (&optional keep)
-  "Insert all links in `org-stored-links'."
+(defun org-insert-all-links (&optional keep not-as-list-item)
+  "Insert all links in `org-stored-links'.
+When `keep' is non-nil, do not delete then link from `org-stored-links'.
+When `not-as-list-item', insert the link directly, not as a list item."
   (interactive "P")
-  (let ((links (copy-sequence org-stored-links)) l)
-    (while (setq l (if keep (pop links) (pop org-stored-links)))
-      (insert "- ")
+  (let ((org-keep-stored-link-after-insertion (equal keep '(4)))
+	(links (copy-seq org-stored-links))
+	(cnt 1) l)
+    (if (null org-stored-links)
+	(message "No link to insert")
+    (while (and (or (listp keep) (>= keep cnt))
+		(setq l (if (listp keep)
+			    (pop links)
+		      	(pop org-stored-links))))
+      (setq cnt (1+ cnt))
+      (unless not-as-list-item (insert "- "))
       (org-insert-link nil (car l) (or (cadr l) "<no description>"))
-      (insert "\n"))))
+      (unless not-as-list-item (insert "\n"))))))
+
+(defun org-insert-last-stored-link (arg)
+  "Insert the last link stored in `org-stored-links'."
+  (interactive "p")
+  (org-insert-all-links arg t))
 
 (defun org-link-fontify-links-to-this-file ()
   "Fontify links to the current file in `org-stored-links'."
@@ -19198,6 +19213,7 @@ boundaries."
 (org-defkey org-mode-map "\C-c\C-x\C-n" 'org-next-link)
 (org-defkey org-mode-map "\C-c\C-x\C-p" 'org-previous-link)
 (org-defkey org-mode-map "\C-c\C-l" 'org-insert-link)
+(org-defkey org-mode-map "\C-c\M-l" 'org-insert-last-stored-link)
 (org-defkey org-mode-map "\C-c\C-\M-l" 'org-insert-all-links)
 (org-defkey org-mode-map "\C-c\C-o" 'org-open-at-point)
 (org-defkey org-mode-map "\C-c%"    'org-mark-ring-push)