diff --git a/Include/patchlevel.h b/Include/patchlevel.h
index 2bda30d..5dc9596 100644
--- a/Include/patchlevel.h
+++ b/Include/patchlevel.h
@@ -19,11 +19,11 @@
 #define PY_MAJOR_VERSION	3
 #define PY_MINOR_VERSION	2
 #define PY_MICRO_VERSION	0
-#define PY_RELEASE_LEVEL	PY_RELEASE_LEVEL_ALPHA
-#define PY_RELEASE_SERIAL	4
+#define PY_RELEASE_LEVEL	PY_RELEASE_LEVEL_BETA
+#define PY_RELEASE_SERIAL	1
 
 /* Version as a string */
-#define PY_VERSION      	"3.2a4+"
+#define PY_VERSION      	"3.2b1"
 /*--end constants--*/
 
 /* Subversion Revision number of this file (not of the repository) */
diff --git a/Lib/distutils/__init__.py b/Lib/distutils/__init__.py
index bae33b5..8b85f35 100644
--- a/Lib/distutils/__init__.py
+++ b/Lib/distutils/__init__.py
@@ -15,5 +15,5 @@
 # Updated automatically by the Python release process.
 #
 #--start constants--
-__version__ = "3.2a4"
+__version__ = "3.2b1"
 #--end constants--
diff --git a/Lib/idlelib/idlever.py b/Lib/idlelib/idlever.py
index 812e071..65283a2 100644
--- a/Lib/idlelib/idlever.py
+++ b/Lib/idlelib/idlever.py
@@ -1 +1 @@
-IDLE_VERSION = "3.2a4"
+IDLE_VERSION = "3.2b1"
diff --git a/Misc/NEWS b/Misc/NEWS
index 1e8108e..05d1f12 100644
--- a/Misc/NEWS
+++ b/Misc/NEWS
@@ -5,26 +5,25 @@
 What's New in Python 3.2 Beta 1?
 ================================
 
-*Release date: XX-Dec-2010*
+*Release date: 05-Dec-2010*
 
 Core and Builtins
 -----------------
 
-- Issue #10596: Fix float.__mod__ to have the same behaviour as
-  float.__divmod__ with respect to signed zeros.  -4.0 % 4.0 should be
-  0.0, not -0.0.
+- Issue #10596: Fix float.__mod__ to have the same behaviour as float.__divmod__
+  with respect to signed zeros.  -4.0 % 4.0 should be 0.0, not -0.0.
 
-- Issue #1772833: Add the -q command-line option to suppress copyright
-  and version output in interactive mode.
+- Issue #1772833: Add the -q command-line option to suppress copyright and
+  version output in interactive mode.
 
 - Provide an *optimize* parameter in the built-in compile() function.
 
-- Fixed several corner case issues on os.stat/os.lstat related to reparse
-  points. (Windows)
+- Fixed several corner case issues on Windows in os.stat/os.lstat related to
+  reparse points.
 
 - PEP 384 (Defining a Stable ABI) is implemented.
 
-- Issue #2690: Range objects support negative indices and slicing
+- Issue #2690: Range objects support negative indices and slicing.
 
 - Issue #9915: Speed up sorting with a key.
 
@@ -56,8 +55,8 @@
 
 - Add the "display" and "undisplay" pdb commands.
 
-- Issue #7245: Add a SIGINT handler in pdb that allows to break a program
-  again after a "continue" command.
+- Issue #7245: Add a SIGINT handler in pdb that allows to break a program again
+  after a "continue" command.
 
 - Add the "interact" pdb command.
 
@@ -260,8 +259,8 @@
 -----
 
 - Issue #10557: Added a new API function, PyUnicode_TransformDecimalToASCII(),
-  which transforms non-ASCII decimal digits in a Unicode string to their
-  ASCII equivalents. 
+  which transforms non-ASCII decimal digits in a Unicode string to their ASCII
+  equivalents.
 
 - Issue #9518: Extend the PyModuleDef_HEAD_INIT macro to explicitly
   zero-initialize all fields, fixing compiler warnings seen when building
@@ -279,10 +278,10 @@
 -----
 
 - regrtest.py once again ensures the test directory is removed from sys.path
-  when it is invoked directly as the __main__ module
+  when it is invoked directly as the __main__ module.
 
-- `python -m test` can be used to run the test suite as well as
-  `python -m test.regrtest`.
+- `python -m test` can be used to run the test suite as well as `python -m
+  test.regrtest`.
 
 - Do not fail test_socket when the IP address of the local hostname cannot be
   looked up.
diff --git a/Misc/RPM/python-3.2.spec b/Misc/RPM/python-3.2.spec
index 9a0c0ea..573a5e0 100644
--- a/Misc/RPM/python-3.2.spec
+++ b/Misc/RPM/python-3.2.spec
@@ -39,7 +39,7 @@
 
 %define name python
 #--start constants--
-%define version 3.2a4
+%define version 3.2b1
 %define libvers 3.2
 #--end constants--
 %define release 1pydotorg
diff --git a/README b/README
index 6ce8277..af52c9f 100644
--- a/README
+++ b/README
@@ -1,5 +1,5 @@
-This is Python version 3.2 alpha 4
-==================================
+This is Python version 3.2 beta 1
+=================================
 
 Copyright (c) 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010
 Python Software Foundation.