diff --git a/NEWS b/NEWS
index d1a1dc5c..72effb11 100644
--- a/NEWS
+++ b/NEWS
@@ -2,6 +2,8 @@
 User visible changes for UPX
 ==================================================================
 
+Changes in 3.08 (XX XXX XXXX):
+
 Changes in 3.07 (08 Sep 2010):
   * win32/pe: fixed relocation handling for files with *no* TLS callbacks
     [severe bug introduced in 3.06]
diff --git a/src/version.h b/src/version.h
index e9a3d71d..008f5bce 100644
--- a/src/version.h
+++ b/src/version.h
@@ -1,6 +1,6 @@
-#define UPX_VERSION_HEX         0x030700        /* 03.07.00 */
-#define UPX_VERSION_STRING      "3.07"
-#define UPX_VERSION_STRING4     "3.07"
-#define UPX_VERSION_DATE        "Sep 08th 2010"
-#define UPX_VERSION_DATE_ISO    "2010-09-08"
+#define UPX_VERSION_HEX         0x030800        /* 03.08.00 */
+#define UPX_VERSION_STRING      "3.08"
+#define UPX_VERSION_STRING4     "3.08"
+#define UPX_VERSION_DATE        "Sep 09th 2010"
+#define UPX_VERSION_DATE_ISO    "2010-09-09"
 #define UPX_VERSION_YEAR        "2010"