diff --git a/VERSION b/VERSION
index f49acf3e8..32da61365 100644
--- a/VERSION
+++ b/VERSION
@@ -1,5 +1,5 @@
 # file that keeps track of the latest tag in cvs and the corresponding version
 # this automates publishing a new version, when it's tagged
 # if you don't understand this, don't worry. You don't need this file
-VERSION=3.4.8
+VERSION=3.4.9-RC1
 DEVVERSION=3.4.9