-fvisibility=protected doesn't work?

ay@xlin2:~$ cat 1.c
void F1() { }
void* F2() { return F1; }

jay@xlin2:~$ $HOME/bin/gcc 1.c -fPIC -shared -fvisibility=protected

/usr/bin/ld: /tmp/cc0d6EQ3.o: relocation R_386_GOTOFF against protected function `F1' can not be used when making a shared object
/usr/bin/ld: final link failed: Bad value
collect2: ld returned 1 exit status

jay@xlin2:~$ $HOME/bin/gcc -v
Using built-in specs.
COLLECT_GCC=/home/jay/bin/gcc
COLLECT_LTO_WRAPPER=/home/jay/libexec/gcc/i686-pc-linux-gnu/4.5.0/lto-wrapper
Target: i686-pc-linux-gnu
Configured with: /src/gcc-4.5.0/configure -verbose -prefix=/home/jay -disable-bootstrap -disable-multilibs
Thread model: posix
gcc version 4.5.0 (GCC)