Index: wp-admin/includes/media.php
===================================================================
--- wp-admin/includes/media.php	(revision 20738)
+++ wp-admin/includes/media.php	(working copy)
@@ -390,7 +390,7 @@
 	return "<a href='" . esc_url( get_upload_iframe_src($type) ) . "' id='{$id}-add_{$type}' class='thickbox add_$type' title='" . esc_attr( $title ) . "'><img src='" . esc_url( admin_url( $icon ) ) . "' alt='$title' onclick='return false;' /></a>";
 }
 
-function get_upload_iframe_src( $type = null, $post_id = null, $tab = null ) {
+function get_upload_iframe_src( $type = null, $post_id = null, $tab = null, $context = 'post' ) {
 	global $post_ID;
 
 	if ( empty( $post_id ) )
@@ -404,6 +404,9 @@
 	if ( ! empty( $tab ) )
 		$upload_iframe_src = add_query_arg('tab', $tab, $upload_iframe_src);
 
+	if ( 'post' != $context )
+		$upload_iframe_src = add_query_arg('context', $context, $upload_iframe_src);
+
 	$upload_iframe_src = apply_filters($type . '_upload_iframe_src', $upload_iframe_src);
 
 	return add_query_arg('TB_iframe', true, $upload_iframe_src);
Index: wp-admin/includes/post.php
===================================================================
--- wp-admin/includes/post.php	(revision 20738)
+++ wp-admin/includes/post.php	(working copy)
@@ -1145,7 +1145,7 @@
 	if ( empty( $post_id ) )
 		$post_id = $post_ID;
 
-	$upload_iframe_src = esc_url( get_upload_iframe_src('image', $post_id) );
+	$upload_iframe_src = esc_url( get_upload_iframe_src( 'image', $post_id, null, 'featured' ) );
 	$set_thumbnail_link = '<p class="hide-if-no-js"><a title="' . esc_attr__( 'Set featured image' ) . '" href="%s" id="set-post-thumbnail" class="thickbox">%s</a></p>';
 	$content = sprintf( $set_thumbnail_link, $upload_iframe_src, esc_html__( 'Set featured image' ) );
 
Index: wp-admin/js/set-post-thumbnail.dev.js
===================================================================
--- wp-admin/js/set-post-thumbnail.dev.js	(revision 20738)
+++ wp-admin/js/set-post-thumbnail.dev.js	(working copy)
@@ -15,6 +15,8 @@
 			$link.fadeOut( 2000 );
 			win.WPSetThumbnailID(id);
 			win.WPSetThumbnailHTML(str);
+			if ( window.location.href.indexOf('featured') != -1 )
+				win.tb_remove();
 		}
 	}
 	);