diff --git a/README.1ST b/README.1ST
index 189e51c1..60edae0a 100644
--- a/README.1ST
+++ b/README.1ST
@@ -14,15 +14,18 @@
 WARNING - UNSTABLE BETA VERSION
 ===============================
 
-All versions 1.1x are unstable beta releases - use them only for testing,
+All versions 1.9x are unstable beta releases - use them only for testing,
 and never distribute a program that is packed with them !
 There will be hidden bugs. Really.
 
-The current stable release is 1.04, and the next stable release
-will be called version 1.20.
-
-The main news since 1.04 are support for bootable Linux kernels ("vmlinuz/386")
-and direct Linux ELF-to-memory decompression ("linux/elf386"), so there's
-no reason to use the unstable versions unless you want to try the new formats.
+The current stable release is 1.23, and the next stable release
+will be called version 2.00.
 
+The main news since 1.23 are:
+  - somewhat better compression using the new NRV2E algorithm
+  - new options for compression tuining (e.g. `--brute')
+  - support for bootable Linux kernels ("vmlinuz/386")
+  - direct Linux ELF-to-memory decompression ("linux/elf386")
+  - support for playstation exes ("ps1/exe")
+  - lots of new bugs ;-) take care