diff --git a/Makefile b/Makefile
index 6e07862..d4705e5 100644
--- a/Makefile
+++ b/Makefile
@@ -9,9 +9,9 @@
 # CONFIG_LOCALVERSION from some future config system.
 #
 VERSION = 1
-PATCHLEVEL = 0
+PATCHLEVEL = 1
 SUBLEVEL = 0
-EXTRAVERSION =
+EXTRAVERSION =-rc1
 LOCAL_VERSION =
 CONFIG_LOCALVERSION =