diff --git a/source/lex.tex b/source/lex.tex
index ed45edd697..a562440b60 100644
--- a/source/lex.tex
+++ b/source/lex.tex
@@ -534,29 +534,30 @@
 \indextext{token!preprocessing|(}%
 \begin{bnf}
 \nontermdef{preprocessing-token}\br
+    keyword-placeholder\br
     header-name\br
-    import-keyword\br
-    module-keyword\br
-    export-keyword\br
-    identifier\br
     pp-number\br
+    preprocessing-op-or-punc\br
+    identifier\br
     character-literal\br
     user-defined-character-literal\br
     string-literal\br
     user-defined-string-literal\br
-    preprocessing-op-or-punc\br
     \textnormal{each non-whitespace character that cannot be one of the above}
 \end{bnf}
 
 \pnum
 A preprocessing token is the minimal lexical element of the language in translation
 phases 3 through 5.
-The categories of preprocessing token are: header names,
-placeholder tokens produced by preprocessing \tcode{import} and \tcode{module} directives
-(\grammarterm{import-keyword}, \grammarterm{module-keyword}, and \grammarterm{export-keyword}),
-identifiers, preprocessing numbers, character literals (including user-defined character
-literals), string literals (including user-defined string literals), preprocessing
-operators and punctuators, and single non-whitespace characters that do not lexically
+The categories of preprocessing token are:
+keyword plaeholders\iref{lex.placeholder},
+header names\iref{lex.header},
+preprocessing numbers\iref{lex.ppnumber},
+preprocessing operators and punctuators\iref{lex.operators},
+identifiers\iref{lex.name},
+character literals\iref{lex.ccon} including user-defined character literals,
+string literals\iref{lex.string} including user-defined string literals,
+and single non-whitespace characters that do not lexically
 match the other preprocessing token categories.
 If a \unicode{0027}{apostrophe}, a \unicode{0022}{quotation mark},
 or any character not in the basic character set
@@ -587,20 +588,6 @@
 shall have the lexical form of a keyword, an identifier, a literal,
 or an operator or punctuator.
 
-\pnum
-\indexgrammar{\idxgram{import-keyword}}%
-\indexgrammar{\idxgram{module-keyword}}%
-\indexgrammar{\idxgram{export-keyword}}%
-The \grammarterm{import-keyword} is produced
-by processing an \keyword{import} directive\iref{cpp.import},
-the \grammarterm{module-keyword} is produced
-by preprocessing a \keyword{module} directive\iref{cpp.module}, and
-the \grammarterm{export-keyword} is produced
-by preprocessing either of the previous two directives.
-\begin{note}
-None has any observable spelling.
-\end{note}
-
 \pnum
 If the input stream has been parsed into preprocessing tokens up to a
 given character:
@@ -687,6 +674,35 @@
 \end{example}
 \indextext{token!preprocessing|)}
 
+\rSec1[lex.placeholder]{Keyword placeholders}
+\indextext{placeholder!keyword|(}%
+\indexgrammar{\idxgram{import-keyword}}%
+\indexgrammar{\idxgram{module-keyword}}%
+\indexgrammar{\idxgram{export-keyword}}%
+
+\begin{bnf}
+\nontermdef{keyword-placeholder}\br
+    export-keyword\br
+    import-keyword\br
+    module-keyword
+\end{bnf}
+
+\pnum
+Keyword placeholders are produced by preprocessing \keyword{import}
+and \keyword{module} directives.
+The \grammarterm{import-keyword} is produced
+by preprocessing an \keyword{import} directive\iref{cpp.import},
+the \grammarterm{module-keyword} is produced
+by preprocessing a \keyword{module} directive\iref{cpp.module}, and
+the \grammarterm{export-keyword} is produced
+by preprocessing either of the previous two directives.
+
+\pnum
+\begin{note}
+Keyword placeholders do not have any observable spelling.
+\end{note}
+\indextext{placeholder!keyword|(}%
+
 \rSec1[lex.header]{Header names}
 
 \indextext{header!name|(}%
@@ -1012,9 +1028,7 @@
 \begin{bnf}
 \nontermdef{keyword}\br
     \textnormal{any identifier listed in \tref{lex.key}}\br
-    \grammarterm{import-keyword}\br
-    \grammarterm{module-keyword}\br
-    \grammarterm{export-keyword}
+    \grammarterm{keyword-placeholder}
 \end{bnf}
 
 \pnum
diff --git a/source/preprocessor.tex b/source/preprocessor.tex
index b9809ae664..44316d4c4e 100644
--- a/source/preprocessor.tex
+++ b/source/preprocessor.tex
@@ -1264,7 +1264,7 @@
 \pnum
 The \tcode{module} and \tcode{export} (if it exists) preprocessing tokens
 are replaced by the \grammarterm{module-keyword} and
-\grammarterm{export-keyword} preprocessing tokens respectively.
+\grammarterm{export-keyword} keyword placeholders respectively\iref{lex.placeholder}.
 \begin{note}
 This makes the line no longer a directive
 so it is not removed at the end of phase 4.
@@ -1317,7 +1317,7 @@
 In all three forms of \grammarterm{pp-import},
 the \tcode{import} and \tcode{export} (if it exists) preprocessing tokens
 are replaced by the \grammarterm{import-keyword} and
-\grammarterm{export-keyword} preprocessing tokens respectively.
+\grammarterm{export-keyword} keyword placeholders respectively\iref{lex.placeholder}.
 \begin{note}
 This makes the line no longer a directive
 so it is not removed at the end of phase 4.