diff --git a/Makefile b/Makefile
index e17d821..05b404d 100644
--- a/Makefile
+++ b/Makefile
@@ -21,10 +21,10 @@
 # MA 02111-1307 USA
 #
 
-VERSION = 2010
-PATCHLEVEL = 12
+VERSION = 2011
+PATCHLEVEL = 03
 SUBLEVEL =
-EXTRAVERSION =
+EXTRAVERSION = -rc1
 ifneq "$(SUBLEVEL)" ""
 U_BOOT_VERSION = $(VERSION).$(PATCHLEVEL).$(SUBLEVEL)$(EXTRAVERSION)
 else