Index: magnolia-core/src/main/java/info/magnolia/cms/beans/config/PropertiesInitializer.java
===================================================================
--- magnolia-core/src/main/java/info/magnolia/cms/beans/config/PropertiesInitializer.java	(revision 22905)
+++ magnolia-core/src/main/java/info/magnolia/cms/beans/config/PropertiesInitializer.java	(working copy)
@@ -41,6 +41,7 @@
 import info.magnolia.module.model.PropertyDefinition;
 import org.apache.commons.io.IOUtils;
 import org.apache.commons.lang.ArrayUtils;
+import org.apache.commons.lang.ObjectUtils;
 import org.apache.commons.lang.StringUtils;
 import org.slf4j.Logger;
 import org.slf4j.LoggerFactory;
@@ -57,6 +58,8 @@
 import java.util.Properties;
 import java.util.Set;
 
+import javax.servlet.ServletContext;
+
 /**
  * @author pbracher
  * @author fgiust
@@ -65,18 +68,28 @@
     /**
      * The properties file containing the bean default implementations
      */
-    private static final String MGNL_BEANS_PROPERTIES = "/mgnl-beans.properties";
+    private static final String MGNL_BEANS_PROPERTIES = "/mgnl-beans.properties"; //$NON-NLS-1$
 
     /**
      * Placeholder prefix: "${"
      */
-    public static final String PLACEHOLDER_PREFIX = "${";
+    public static final String PLACEHOLDER_PREFIX = "${"; //$NON-NLS-1$
 
     /**
      * Placeholder suffix: "}"
      */
-    public static final String PLACEHOLDER_SUFFIX = "}";
+    public static final String PLACEHOLDER_SUFFIX = "}"; //$NON-NLS-1$
 
+    /**
+     * Context attribute prefix, to obtain a property definition like ${contextAttribute/property}, that can refer to any context attribute.
+     */
+    public static final String CONTEXT_ATTRIBUTE_PLACEHOLDER_PREFIX = "contextAttribute/"; //$NON-NLS-1$
+
+    /**
+     * Context parameter prefix, to obtain a property definition like ${contextParam/property}, that can refer to any context parameter.
+     */
+    public static final String CONTEXT_PARAM_PLACEHOLDER_PREFIX = "contextParam/"; //$NON-NLS-1$
+
     public static PropertiesInitializer getInstance() {
         return (PropertiesInitializer) FactoryUtil.getSingleton(PropertiesInitializer.class);
     }
@@ -247,10 +260,51 @@
         }
     }
 
-    public static String processPropertyFilesString(String servername, String webapp, String propertiesFilesString) {
-        propertiesFilesString = StringUtils.replace(propertiesFilesString, "${servername}", servername); //$NON-NLS-1$
-        propertiesFilesString = StringUtils.replace(propertiesFilesString, "${webapp}", webapp); //$NON-NLS-1$
+    /**
+     * Returns the property files configuration string passed, replacing all the needed values: ${servername} will be reaplced with the name
+     * of the server, ${webapp} will be replaced with webapp name, and ${contextAttribute/*} and ${contextParam/*} will be replaced with the
+     * corresponding attributes or parameters taken from servlet context. This can be very useful for all those application servers that has
+     * multiple instances on the same server, like WebSphere. Typical usage in this case:
+     * <code>WEB-INF/config/${servername}/${contextAttribute/com.ibm.websphere.servlet.application.host}/magnolia.properties</code> 
+     * @param context Servlet context
+     * @param servername Server name
+     * @param webapp Webapp name
+     * @param propertiesFilesString Property file configuration string.
+     * @return Property file configuration string with everything replaced.
+     */
+    public static String processPropertyFilesString(ServletContext context, String servername, String webapp, String propertiesFilesString) {
+    	//Replacing basic properties.
+        propertiesFilesString = StringUtils.replace(propertiesFilesString, PLACEHOLDER_PREFIX + "servername" + PLACEHOLDER_SUFFIX, servername); //$NON-NLS-1$
+        propertiesFilesString = StringUtils.replace(propertiesFilesString, PLACEHOLDER_PREFIX + "webapp" + PLACEHOLDER_SUFFIX, webapp); //$NON-NLS-1$
 
+        //TODO Allow nested placeholders and generalize the parseStringValue() below to do all the substitutions.
+        
+        //Replacing servlet context attributes.
+        final String contextAttributePlaceHolder = PLACEHOLDER_PREFIX + CONTEXT_ATTRIBUTE_PLACEHOLDER_PREFIX;
+        String[] contextAttributes = StringUtils.stripAll(StringUtils.substringsBetween(propertiesFilesString, contextAttributePlaceHolder, PLACEHOLDER_SUFFIX));
+        if (!ArrayUtils.isEmpty(contextAttributes)) { // Can be null.
+        	for (String contextAttribute : contextAttributes) {
+        		if (contextAttribute != null) {
+        			//Some implementation may not accept a null as attribute key, but all should accept an empty string.
+                	String originalPlaceHolder = contextAttributePlaceHolder + contextAttribute + PLACEHOLDER_SUFFIX;
+                	propertiesFilesString = StringUtils.replace(propertiesFilesString, originalPlaceHolder, ObjectUtils.toString(context.getAttribute(contextAttribute), originalPlaceHolder));
+        		}
+        	}
+        }
+
+        //Replacing servlet context parameters.
+        final String contextParamPlaceHolder = PLACEHOLDER_PREFIX + CONTEXT_PARAM_PLACEHOLDER_PREFIX;
+        String[] contextParams = StringUtils.stripAll(StringUtils.substringsBetween(propertiesFilesString, contextParamPlaceHolder, PLACEHOLDER_SUFFIX));
+        if (!ArrayUtils.isEmpty(contextParams)) { // Can be null.
+        	for (String contextParam : contextParams) {
+        		if (contextParam != null) {
+        			//Some implementation may not accept a null as param key, but an empty string? TODO Check.
+                	String originalPlaceHolder = contextParamPlaceHolder + contextParam + PLACEHOLDER_SUFFIX;
+                	propertiesFilesString = StringUtils.replace(propertiesFilesString, originalPlaceHolder, StringUtils.defaultString(context.getInitParameter(contextParam), originalPlaceHolder));
+        		}
+        	}
+        }
+
         return propertiesFilesString;
     }
 
Index: magnolia-core/src/main/java/info/magnolia/cms/servlets/MgnlServletContextListener.java
===================================================================
--- magnolia-core/src/main/java/info/magnolia/cms/servlets/MgnlServletContextListener.java	(revision 22905)
+++ magnolia-core/src/main/java/info/magnolia/cms/servlets/MgnlServletContextListener.java	(working copy)
@@ -188,7 +188,7 @@
         else {
             log.debug("{} value in web.xml is :'{}'", MgnlServletContextListener.MAGNOLIA_INITIALIZATION_FILE, propertiesFilesString); //$NON-NLS-1$
         }
-        return PropertiesInitializer.processPropertyFilesString(servername, webapp, propertiesFilesString);
+        return PropertiesInitializer.processPropertyFilesString(context, servername, webapp, propertiesFilesString);
     }
 
     protected String initWebappName(String rootPath) {
@@ -222,6 +222,10 @@
 
         try {
             servername = StringUtils.lowerCase(InetAddress.getLocalHost().getHostName());
+
+            if (StringUtils.contains(servername, ".")) {
+                servername = StringUtils.substringBefore(servername, ".");
+            }
             SystemProperty.setProperty(SystemProperty.MAGNOLIA_SERVERNAME, servername);
         }
         catch (UnknownHostException e) {