diff --git a/pep-0422.txt b/pep-0422.txt
index 86451d222..2affcb68c 100644
--- a/pep-0422.txt
+++ b/pep-0422.txt
@@ -4,7 +4,7 @@ Version: $Revision$
 Last-Modified: $Date$
 Author: Nick Coghlan <ncoghlan@gmail.com>,
         Daniel Urban <urban.dani+py@gmail.com>
-Status: Deferred
+Status: Withdrawn
 Type: Standards Track
 Content-Type: text/x-rst
 Created: 5-Jun-2012
@@ -28,16 +28,13 @@ implementing a custom metaclass, and thus should provide a gentler
 introduction to the full power Python's metaclass machinery.
 
 
-PEP Deferral
-============
+PEP Withdrawal
+==============
 
-Currently deferred pending updates to address feedback received prior to the
-Python 3.4 release (see TODO note below).
-
-Note that I'd be open to relinquishing the PEP to a new champion if anyone
-would like to propose it for Python 3.5 (while I've made a few updates to
-the design recently it doesn't currently look like I will be in a position
-to push it forward myself in the 3.5 time frame).
+This proposal has been withdrawn in favour of Martin Teichmann's proposal
+in PEP 487, which achieves the same goals through a simpler, easier to use
+``__init_subclass__`` hook that simply isn't invoked for the base class
+that defines the hook.
 
 
 Background