diff --git a/Include/patchlevel.h b/Include/patchlevel.h
index 4d6e334..4c57860 100644
--- a/Include/patchlevel.h
+++ b/Include/patchlevel.h
@@ -22,12 +22,12 @@
 /*--start constants--*/
 #define PY_MAJOR_VERSION	2
 #define PY_MINOR_VERSION	7
-#define PY_MICRO_VERSION	11
-#define PY_RELEASE_LEVEL	PY_RELEASE_LEVEL_FINAL
-#define PY_RELEASE_SERIAL	0
+#define PY_MICRO_VERSION	12
+#define PY_RELEASE_LEVEL	PY_RELEASE_LEVEL_GAMMA
+#define PY_RELEASE_SERIAL	1
 
 /* Version as a string */
-#define PY_VERSION      	"2.7.11+"
+#define PY_VERSION      	"2.7.12rc1"
 /*--end constants--*/
 
 /* Subversion Revision number of this file (not of the repository). Empty
diff --git a/Misc/NEWS b/Misc/NEWS
index 2a6dec8..3926350 100644
--- a/Misc/NEWS
+++ b/Misc/NEWS
@@ -2,10 +2,10 @@
 Python News
 +++++++++++
 
-What's New in Python 2.7.12?
-============================
+What's New in Python 2.7.12 release candidate 1?
+================================================
 
-*Release date: XXXX-XX-XX*
+*Release date: 2016-06-12*
 
 Core and Builtins
 -----------------
diff --git a/README b/README
index b569486..9b27c32 100644
--- a/README
+++ b/README
@@ -1,4 +1,4 @@
-This is Python version 2.7.11
+This is Python version 2.7.12
 =============================
 
 Copyright (c) 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011,