diff --git a/Include/patchlevel.h b/Include/patchlevel.h
index e6c98e4..0a5df3f 100644
--- a/Include/patchlevel.h
+++ b/Include/patchlevel.h
@@ -20,10 +20,10 @@
 #define PY_MINOR_VERSION	4
 #define PY_MICRO_VERSION	0
 #define PY_RELEASE_LEVEL	PY_RELEASE_LEVEL_BETA
-#define PY_RELEASE_SERIAL	1
+#define PY_RELEASE_SERIAL	2
 
 /* Version as a string */
-#define PY_VERSION      	"3.4.0b1"
+#define PY_VERSION      	"3.4.0b2"
 /*--end constants--*/
 
 /* Version as a single 4-byte hex number, e.g. 0x010502B2 == 1.5.2b2.
diff --git a/Lib/distutils/__init__.py b/Lib/distutils/__init__.py
index 38a5086..725a33d 100644
--- a/Lib/distutils/__init__.py
+++ b/Lib/distutils/__init__.py
@@ -13,5 +13,5 @@
 # Updated automatically by the Python release process.
 #
 #--start constants--
-__version__ = "3.4.0b1"
+__version__ = "3.4.0b2"
 #--end constants--
diff --git a/Lib/idlelib/idlever.py b/Lib/idlelib/idlever.py
index cd2c8bf..fe9a481 100644
--- a/Lib/idlelib/idlever.py
+++ b/Lib/idlelib/idlever.py
@@ -1 +1 @@
-IDLE_VERSION = "3.4.0b1"
+IDLE_VERSION = "3.4.0b2"
diff --git a/Misc/RPM/python-3.4.spec b/Misc/RPM/python-3.4.spec
index 16e009c..4841df2 100644
--- a/Misc/RPM/python-3.4.spec
+++ b/Misc/RPM/python-3.4.spec
@@ -39,7 +39,7 @@
 
 %define name python
 #--start constants--
-%define version 3.4.0b1
+%define version 3.4.0b2
 %define libvers 3.4
 #--end constants--
 %define release 1pydotorg
diff --git a/README b/README
index 9a2ee01..e50931f 100644
--- a/README
+++ b/README
@@ -1,4 +1,4 @@
-This is Python version 3.4.0 beta 1
+This is Python version 3.4.0 beta 2
 ===================================
 
 Copyright (c) 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011,