diff --git a/Include/patchlevel.h b/Include/patchlevel.h
index ece0fead8d1..441c499bb00 100644
--- a/Include/patchlevel.h
+++ b/Include/patchlevel.h
@@ -23,11 +23,11 @@
 #define PY_MAJOR_VERSION	2
 #define PY_MINOR_VERSION	7
 #define PY_MICRO_VERSION	7
-#define PY_RELEASE_LEVEL	PY_RELEASE_LEVEL_GAMMA
-#define PY_RELEASE_SERIAL	1
+#define PY_RELEASE_LEVEL	PY_RELEASE_LEVEL_FINAL
+#define PY_RELEASE_SERIAL	0
 
 /* Version as a string */
-#define PY_VERSION      	"2.7.7rc1"
+#define PY_VERSION      	"2.7.7"
 /*--end constants--*/
 
 /* Subversion Revision number of this file (not of the repository). Empty
diff --git a/Lib/distutils/__init__.py b/Lib/distutils/__init__.py
index 79fd8d79fe8..fe729e7ed0b 100644
--- a/Lib/distutils/__init__.py
+++ b/Lib/distutils/__init__.py
@@ -15,5 +15,5 @@ __revision__ = "$Id$"
 # Updated automatically by the Python release process.
 #
 #--start constants--
-__version__ = "2.7.7rc1"
+__version__ = "2.7.7"
 #--end constants--
diff --git a/Lib/idlelib/idlever.py b/Lib/idlelib/idlever.py
index e2cd4702b7b..55bfe1cbb3d 100644
--- a/Lib/idlelib/idlever.py
+++ b/Lib/idlelib/idlever.py
@@ -1 +1 @@
-IDLE_VERSION = "2.7.7rc1"
+IDLE_VERSION = "2.7.7"
diff --git a/Misc/NEWS b/Misc/NEWS
index 020dc6e68f8..f91003d08dd 100644
--- a/Misc/NEWS
+++ b/Misc/NEWS
@@ -2,6 +2,20 @@
 Python News
 +++++++++++
 
+What's New in Python 2.7.7 release candidate 1?
+===============================================
+
+*Release date: 2014-05-31*
+
+Build
+-----
+
+- Issue #21462: Build the Windows installers with OpenSSL 1.0.1g.
+
+- Issue #19866: Include some test data in the Windows installers, so tests don't
+  fail.
+
+
 What's New in Python 2.7.7 release candidate 1?
 ===============================================
 
diff --git a/Misc/RPM/python-2.7.spec b/Misc/RPM/python-2.7.spec
index 2a6bba5ac06..fb0775c859f 100644
--- a/Misc/RPM/python-2.7.spec
+++ b/Misc/RPM/python-2.7.spec
@@ -39,7 +39,7 @@
 
 %define name python
 #--start constants--
-%define version 2.7.7rc1
+%define version 2.7.7
 %define libvers 2.7
 #--end constants--
 %define release 1pydotorg
diff --git a/README b/README
index 3eb44156c79..7699ec66d50 100644
--- a/README
+++ b/README
@@ -1,5 +1,5 @@
-This is Python version 2.7.7 release candidate 1
-================================================
+This is Python version 2.7.7
+============================
 
 Copyright (c) 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011,
 2012, 2013, 2014 Python Software Foundation.  All rights reserved.