diff --git a/RAILS_VERSION b/RAILS_VERSION
index 14e1b44259..0db186f5d2 100644
--- a/RAILS_VERSION
+++ b/RAILS_VERSION
@@ -1 +1 @@
-4.0.0.beta1
+4.0.0.rc1
diff --git a/actionmailer/lib/action_mailer/version.rb b/actionmailer/lib/action_mailer/version.rb
index 89e31c4be6..ab67f62929 100644
--- a/actionmailer/lib/action_mailer/version.rb
+++ b/actionmailer/lib/action_mailer/version.rb
@@ -1,7 +1,7 @@
 module ActionMailer
   # Returns the version of the currently loaded ActionMailer as a Gem::Version
   def self.version
-    Gem::Version.new "4.0.0.beta1"
+    Gem::Version.new "4.0.0.rc1"
   end
 
   module VERSION #:nodoc:
diff --git a/actionpack/lib/action_pack/version.rb b/actionpack/lib/action_pack/version.rb
index b5e47d78d1..b16dbd4f15 100644
--- a/actionpack/lib/action_pack/version.rb
+++ b/actionpack/lib/action_pack/version.rb
@@ -1,7 +1,7 @@
 module ActionPack
   # Returns the version of the currently loaded ActionPack as a Gem::Version
   def self.version
-    Gem::Version.new "4.0.0.beta1"
+    Gem::Version.new "4.0.0.rc1"
   end
 
   module VERSION #:nodoc:
diff --git a/activemodel/lib/active_model/version.rb b/activemodel/lib/active_model/version.rb
index 35c4b30999..b0afb7513d 100644
--- a/activemodel/lib/active_model/version.rb
+++ b/activemodel/lib/active_model/version.rb
@@ -1,7 +1,7 @@
 module ActiveModel
   # Returns the version of the currently loaded ActiveModel as a Gem::Version
   def self.version
-    Gem::Version.new "4.0.0.beta1"
+    Gem::Version.new "4.0.0.rc1"
   end
 
   module VERSION #:nodoc:
diff --git a/activerecord/lib/active_record/version.rb b/activerecord/lib/active_record/version.rb
index f2b041ad97..a670e18aee 100644
--- a/activerecord/lib/active_record/version.rb
+++ b/activerecord/lib/active_record/version.rb
@@ -1,7 +1,7 @@
 module ActiveRecord
   # Returns the version of the currently loaded ActiveRecord as a Gem::Version
   def self.version
-    Gem::Version.new "4.0.0.beta1"
+    Gem::Version.new "4.0.0.rc1"
   end
 
   module VERSION #:nodoc:
diff --git a/activesupport/lib/active_support/version.rb b/activesupport/lib/active_support/version.rb
index ca23057189..2dc040d9a8 100644
--- a/activesupport/lib/active_support/version.rb
+++ b/activesupport/lib/active_support/version.rb
@@ -1,7 +1,7 @@
 module ActiveSupport
   # Returns the version of the currently loaded ActiveSupport as a Gem::Version
   def self.version
-    Gem::Version.new "4.0.0.beta1"
+    Gem::Version.new "4.0.0.rc1"
   end
 
   module VERSION #:nodoc:
diff --git a/railties/lib/rails/version.rb b/railties/lib/rails/version.rb
index fee352db5a..dcbf57a4df 100644
--- a/railties/lib/rails/version.rb
+++ b/railties/lib/rails/version.rb
@@ -3,7 +3,7 @@ module Rails
     MAJOR = 4
     MINOR = 0
     TINY  = 0
-    PRE   = "beta1"
+    PRE   = "rc1"
 
     STRING = [MAJOR, MINOR, TINY, PRE].compact.join(".")
   end
diff --git a/version.rb b/version.rb
index fee352db5a..dcbf57a4df 100644
--- a/version.rb
+++ b/version.rb
@@ -3,7 +3,7 @@ module Rails
     MAJOR = 4
     MINOR = 0
     TINY  = 0
-    PRE   = "beta1"
+    PRE   = "rc1"
 
     STRING = [MAJOR, MINOR, TINY, PRE].compact.join(".")
   end