diff --git a/build.xml b/build.xml
index a1d092098..f41e3bb66 100644
--- a/build.xml
+++ b/build.xml
@@ -35,7 +35,7 @@
   <property name="component.title.full"    value="Apache Jakarta Commons Collections"/>
 
   <!-- The current version number of this component -->
-  <property name="component.version"       value="3.1-dev"/>
+  <property name="component.version"       value="3.1-RC1"/>
 
   <!-- The base directory for component configuration files -->
   <property name="source.conf"               value="src/conf"/>
@@ -583,7 +583,7 @@
 
   <target name="clirr">
     <property name="jar.baseline" value="commons-collections-2.1.1.jar" />
-    <property name="jar.current" value="commons-collections-3.1-dev.jar" />
+    <property name="jar.current" value="commons-collections-3.1.jar" />
 
     <taskdef resource="clirrtask.properties">
       <classpath path="/clirr/clirr-0.3.jar;/clirr/bcel-5.1.jar;" />
diff --git a/project.xml b/project.xml
index fa127f455..6916bb8f7 100644
--- a/project.xml
+++ b/project.xml
@@ -17,7 +17,7 @@
 <project>
   <pomVersion>3</pomVersion>
   <id>commons-collections</id>
-  <currentVersion>3.1-dev</currentVersion>
+  <currentVersion>3.1-RC1</currentVersion>
   <inceptionYear>2001</inceptionYear>
   <name>Collections</name>
   <shortDescription>Commons Collections</shortDescription>