diff --git a/package.xml b/package.xml
index 90eb93b7ad..f199bb9c98 100644
--- a/package.xml
+++ b/package.xml
@@ -15,14 +15,14 @@ http://pear.php.net/dtd/package-2.0.xsd">
   <active>yes</active>
  </lead>
  <date>2016-09-02</date>
- <time>09:44:00</time>
+ <time>10:25:00</time>
  <version>
-  <release>3.0.0a2</release>
-  <api>3.0.0a2</api>
+  <release>3.0.0RC1</release>
+  <api>3.0.0RC1</api>
  </version>
  <stability>
-  <release>alpha</release>
-  <api>alpha</api>
+  <release>beta</release>
+  <api>beta</api>
  </stability>
  <license uri="https://github.com/squizlabs/PHP_CodeSniffer/blob/master/licence.txt">BSD 3-Clause License</license>
  <notes>
@@ -1587,6 +1587,34 @@ http://pear.php.net/dtd/package-2.0.xsd">
   </filelist>
  </phprelease>
  <changelog>
+  <release>
+   <version>
+    <release>3.0.0RC1</release>
+    <api>3.0.0RC1</api>
+   </version>
+   <stability>
+    <release>beta</release>
+    <api>beta</api>
+   </stability>
+   <date>2016-09-02</date>
+   <license uri="https://github.com/squizlabs/PHP_CodeSniffer/blob/master/licence.txt">BSD License</license>
+   <notes>
+    - Progress output now shows E and W in green when a file has fixable errors or warnings
+      -- Only supported if colors are enabled
+    - PHPCBF no longer produces verbose output by default (request #699)
+      -- Use the -v command line argument to show verbose fixing output
+      -- Use the -q command line argument to disable verbose information if enabled by default
+    - PHPBF now prints a summary report after fixing files
+      -- Report shows files that were fixed, how many errors were fixed, and how many remain
+    - PHPCBF now supports the -p command line argument to print progress information
+      -- Prints a green F for files where fixes occurred
+      -- Prints a red E for files that could not be fixed due to an error
+      -- Use the -q command line argument to disable progress information if enabled by default
+    - Running unit tests using --verbose no longer throws errors
+    - Fixed shell error appearing on some systems when trying to find executable paths
+    - Includes all changes from the 2.7.0 release
+    </notes>
+  </release>
   <release>
    <version>
     <release>3.0.0a1</release>
diff --git a/src/Config.php b/src/Config.php
index 53788e1ea1..8664cf0407 100644
--- a/src/Config.php
+++ b/src/Config.php
@@ -22,14 +22,14 @@ class Config
      *
      * @var string
      */
-    const VERSION = '3.0.0a2';
+    const VERSION = '3.0.0RC1';
 
     /**
      * Package stability; either stable, beta or alpha.
      *
      * @var string
      */
-    const STABILITY = 'alpha';
+    const STABILITY = 'beta';
 
     /**
      * An array of settings that PHPCS and PHPCBF accept.