diff --git a/NEWS b/NEWS
index cd3e2b81..117f4d7b 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,7 @@
+Version 1.5.0pre (2014-11-05) - Not for production
+  o Major OSPF protocol redesign
+  o RFC 6549 - OSPFv2 multi-instance extension
+
 Version 1.4.5 (2014-10-06)
   o New 'show route noexport' command option.
   o Port option for BGP sessions.
diff --git a/sysdep/config.h b/sysdep/config.h
index 02f62762..36cf8391 100644
--- a/sysdep/config.h
+++ b/sysdep/config.h
@@ -7,7 +7,7 @@
 #define _BIRD_CONFIG_H_
 
 /* BIRD version */
-#define BIRD_VERSION "1.4.5"
+#define BIRD_VERSION "1.5.0pre"
 
 /* Include parameters determined by configure script */
 #include "sysdep/autoconf.h"