diff --git a/build/build.xml b/build/build.xml
index 3f3d5147a0..b7ef56e7e7 100644
--- a/build/build.xml
+++ b/build/build.xml
@@ -2,7 +2,7 @@
 
 <project name="phpBB" description="The phpBB forum software" default="all" basedir="../">
 	<!-- a few settings for the build -->
-	<property name="newversion" value="3.2.0-RC2-dev" />
+	<property name="newversion" value="3.2.0-RC1" />
 	<property name="prevversion" value="3.2.0-b2" />
 	<property name="olderversions" value="3.0.14, 3.1.0, 3.1.1, 3.1.2, 3.1.3, 3.1.4, 3.1.5, 3.1.6, 3.1.7, 3.1.7-pl1, 3.1.8, 3.1.9, 3.2.0-a1, 3.2.0-a2, 3.2.0-b1" />
 	<!-- no configuration should be needed beyond this point -->
diff --git a/phpBB/includes/constants.php b/phpBB/includes/constants.php
index 38017255b4..154e4a1e43 100644
--- a/phpBB/includes/constants.php
+++ b/phpBB/includes/constants.php
@@ -28,7 +28,7 @@ if (!defined('IN_PHPBB'))
 */
 
 // phpBB Version
-@define('PHPBB_VERSION', '3.2.0-RC2-dev');
+@define('PHPBB_VERSION', '3.2.0-RC1');
 
 // QA-related
 // define('PHPBB_QA', 1);
diff --git a/phpBB/install/schemas/schema_data.sql b/phpBB/install/schemas/schema_data.sql
index 0cff26977e..533448543f 100644
--- a/phpBB/install/schemas/schema_data.sql
+++ b/phpBB/install/schemas/schema_data.sql
@@ -276,7 +276,7 @@ INSERT INTO phpbb_config (config_name, config_value) VALUES ('tpl_allow_php', '0
 INSERT INTO phpbb_config (config_name, config_value) VALUES ('upload_icons_path', 'images/upload_icons');
 INSERT INTO phpbb_config (config_name, config_value) VALUES ('upload_path', 'files');
 INSERT INTO phpbb_config (config_name, config_value) VALUES ('use_system_cron', '0');
-INSERT INTO phpbb_config (config_name, config_value) VALUES ('version', '3.2.0-RC2-dev');
+INSERT INTO phpbb_config (config_name, config_value) VALUES ('version', '3.2.0-RC1');
 INSERT INTO phpbb_config (config_name, config_value) VALUES ('warnings_expire_days', '90');
 INSERT INTO phpbb_config (config_name, config_value) VALUES ('warnings_gc', '14400');