diff --git a/NEWS b/NEWS
index 7b85712a..6b6a2344 100644
--- a/NEWS
+++ b/NEWS
@@ -2,6 +2,8 @@
 User visible changes for UPX
 ==================================================================
 
+Changes in 3.01 (XX XXX 2007):
+
 Changes in 3.00 (27 Apr 2007):
   * watcom/le & tmt/adam: fixed a problem when using certain filters
 
diff --git a/src/version.h b/src/version.h
index 96ef75d2..134929fc 100644
--- a/src/version.h
+++ b/src/version.h
@@ -1,6 +1,6 @@
-#define UPX_VERSION_HEX         0x030000        /* 03.00.00 */
-#define UPX_VERSION_STRING      "3.00"
-#define UPX_VERSION_STRING4     "3.00"
-#define UPX_VERSION_DATE        "Apr 27th 2007"
-#define UPX_VERSION_DATE_ISO    "2007-04-27"
+#define UPX_VERSION_HEX         0x030100        /* 03.01.00 */
+#define UPX_VERSION_STRING      "3.01"
+#define UPX_VERSION_STRING4     "3.01"
+#define UPX_VERSION_DATE        "Apr 30th 2007"
+#define UPX_VERSION_DATE_ISO    "2007-04-30"
 #define UPX_VERSION_YEAR        "2007"