diff --git a/CHANGELOG.md b/CHANGELOG.md
index 46f82fc55..6a43948a3 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,4 +1,4 @@
-## Master
+## 0.7.0.rc1 - September 5, 2011
 
 ### Major Changes
 
diff --git a/lib/guard/version.rb b/lib/guard/version.rb
index e6bb55d10..9528355dc 100644
--- a/lib/guard/version.rb
+++ b/lib/guard/version.rb
@@ -1,3 +1,3 @@
 module Guard
-  VERSION = "0.6.3" unless defined? Guard::VERSION
+  VERSION = "0.7.0.rc1" unless defined? Guard::VERSION
 end