diff --git a/configure.ac b/configure.ac
index 571aa60713..56c1b43d3f 100644
--- a/configure.ac
+++ b/configure.ac
@@ -1,14 +1,14 @@
 #                                               -*- Autoconf -*-
 # Process this file with autoconf to produce a configure script.
 
-m4_define([lxc_devel], 1)
-m4_define([lxc_version_major], 2)
-m4_define([lxc_version_minor], 1)
+m4_define([lxc_devel], 0)
+m4_define([lxc_version_major], 3)
+m4_define([lxc_version_minor], 0)
 m4_define([lxc_version_micro], 0)
-m4_define([lxc_version_beta], [])
+m4_define([lxc_version_beta], [beta1])
 
 m4_define([lxc_abi_major], 1)
-m4_define([lxc_abi_minor], 3)
+m4_define([lxc_abi_minor], 4)
 m4_define([lxc_abi_micro], 0)
 m4_define([lxc_abi], [lxc_abi_major.lxc_abi_minor.lxc_abi_micro])