diff --git a/src/JMS/Serializer/Metadata/Driver/AnnotationDriver.php b/src/JMS/Serializer/Metadata/Driver/AnnotationDriver.php
index 30fe6142d..013acc162 100644
--- a/src/JMS/Serializer/Metadata/Driver/AnnotationDriver.php
+++ b/src/JMS/Serializer/Metadata/Driver/AnnotationDriver.php
@@ -211,10 +211,10 @@ public function loadMetadataForClass(\ReflectionClass $class)
                     }
                 }
 
-                $propertyMetadata->setAccessor($accessType, $accessor[0], $accessor[1]);
 
                 if ((ExclusionPolicy::NONE === $exclusionPolicy && ! $isExclude)
                     || (ExclusionPolicy::ALL === $exclusionPolicy && $isExpose)) {
+                    $propertyMetadata->setAccessor($accessType, $accessor[0], $accessor[1]);
                     $classMetadata->addPropertyMetadata($propertyMetadata);
                 }
             }
diff --git a/tests/JMS/Serializer/Tests/Fixtures/GetSetObject.php b/tests/JMS/Serializer/Tests/Fixtures/GetSetObject.php
index c6a9722b0..a3e936f41 100644
--- a/tests/JMS/Serializer/Tests/Fixtures/GetSetObject.php
+++ b/tests/JMS/Serializer/Tests/Fixtures/GetSetObject.php
@@ -19,6 +19,7 @@
 namespace JMS\Serializer\Tests\Fixtures;
 
 use JMS\Serializer\Annotation\AccessType;
+use JMS\Serializer\Annotation\Exclude;
 use JMS\Serializer\Annotation\Type;
 use JMS\Serializer\Annotation\ReadOnly;
 
@@ -36,6 +37,12 @@ class GetSetObject
      */
     private $readOnlyProperty = 42;
 
+    /**
+     * This property should be exlcluded
+     * @Exclude()
+     */
+    private $excludedProperty;
+
     public function getId()
     {
         throw new \RuntimeException('This should not be called.');