diff --git a/CHANGELOG.md b/CHANGELOG.md
index 7ed01296..b951278a 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,4 +1,4 @@
-# Release 4.8.0 (???)
+# Release 4.8.0rc1 (September 7, 2023)
 
 - Add `typing_extensions.Doc`, as proposed by PEP 727. Patch by
   Sebastián Ramírez.
diff --git a/pyproject.toml b/pyproject.toml
index 6c36b147..3ba1581f 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -6,7 +6,7 @@ build-backend = "flit_core.buildapi"
 # Project metadata
 [project]
 name = "typing_extensions"
-version = "4.7.1"
+version = "4.8.0rc1"
 description = "Backported and Experimental Type Hints for Python 3.8+"
 readme = "README.md"
 requires-python = ">=3.8"