diff --git a/build.xml b/build.xml
index 85a8f4752..df2f3e473 100644
--- a/build.xml
+++ b/build.xml
@@ -52,7 +52,7 @@
   <property name="component.title"         value="Commons MATH"/>
 
   <!-- The current version number of this component -->
-  <property name="component.version"       value="3.0-SNAPSHOT"/>
+  <property name="component.version"       value="3.1-SNAPSHOT"/>
 
   <!-- The base directory for component sources -->
   <property name="source.home"             value="src/main/java"/>