Index: wp-admin/users.php
===================================================================
--- wp-admin/users.php	(revision 4789)
+++ wp-admin/users.php	(working copy)
@@ -450,7 +450,12 @@
 
 <div class="narrow">
 
-<?php echo '<p>'.sprintf(__('Users can <a href="%1$s">register themselves</a> or you can manually create users here.'), get_option('siteurl').'/wp-register.php').'</p>'; ?>
+<?php
+	if ( get_option('users_can_register') )
+		echo '<p>' . sprintf(__('Users can <a href="%1$s">register themselves</a> or you can manually create users here.'), get_option('siteurl').'/wp-register.php') . '</p>';
+	else
+		echo '<p>' . sprintf(__('Users cannot currently <a href="%1$s">register themselves</a>, but you can manually create users here.'), get_option('siteurl').'/wp-admin/options-general.php#users_can_register') . '</p>';
+?>
 <form action="#add-new-user" method="post" name="adduser" id="adduser">
 <?php wp_nonce_field('add-user') ?>
 <table class="editform" width="100%" cellspacing="2" cellpadding="5">