diff --git a/Include/patchlevel.h b/Include/patchlevel.h
index 4ba3b067470..b3e5422f4dc 100644
--- a/Include/patchlevel.h
+++ b/Include/patchlevel.h
@@ -18,12 +18,12 @@
 /*--start constants--*/
 #define PY_MAJOR_VERSION	3
 #define PY_MINOR_VERSION	2
-#define PY_MICRO_VERSION	5
-#define PY_RELEASE_LEVEL	PY_RELEASE_LEVEL_FINAL
-#define PY_RELEASE_SERIAL	0
+#define PY_MICRO_VERSION	6
+#define PY_RELEASE_LEVEL	PY_RELEASE_LEVEL_GAMMA
+#define PY_RELEASE_SERIAL	1
 
 /* Version as a string */
-#define PY_VERSION      	"3.2.5"
+#define PY_VERSION      	"3.2.6rc1"
 /*--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 f9016d6d174..382e4b1c9d0 100644
--- a/Lib/distutils/__init__.py
+++ b/Lib/distutils/__init__.py
@@ -13,5 +13,5 @@ used from a setup script as
 # Updated automatically by the Python release process.
 #
 #--start constants--
-__version__ = "3.2.5"
+__version__ = "3.2.6rc1"
 #--end constants--
diff --git a/Lib/idlelib/idlever.py b/Lib/idlelib/idlever.py
index 4a7c3362af9..b69949dfd91 100644
--- a/Lib/idlelib/idlever.py
+++ b/Lib/idlelib/idlever.py
@@ -1 +1 @@
-IDLE_VERSION = "3.2.5"
+IDLE_VERSION = "3.2.6rc1"
diff --git a/Misc/NEWS b/Misc/NEWS
index 14d9630a8fa..1a704df9965 100644
--- a/Misc/NEWS
+++ b/Misc/NEWS
@@ -5,7 +5,7 @@ Python News
 What's New in Python 3.2.6?
 ===========================
 
-*Release date: TBD*
+*Release date: 11-Oct-2014*
 
 Core and Builtins
 -----------------
diff --git a/Misc/RPM/python-3.2.spec b/Misc/RPM/python-3.2.spec
index c93f6bf5139..664589ee056 100644
--- a/Misc/RPM/python-3.2.spec
+++ b/Misc/RPM/python-3.2.spec
@@ -39,7 +39,7 @@
 
 %define name python
 #--start constants--
-%define version 3.2.5
+%define version 3.2.6rc1
 %define libvers 3.2
 #--end constants--
 %define release 1pydotorg
diff --git a/README b/README
index 6d8e18c9184..50f11e057af 100644
--- a/README
+++ b/README
@@ -1,8 +1,8 @@
-This is Python version 3.2.5
-============================
+This is Python version 3.2.6 release candidate 1
+================================================
 
 Copyright (c) 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011,
-2012, 2013 Python Software Foundation.  All rights reserved.
+2012, 2013, 2014 Python Software Foundation.  All rights reserved.
 
 Python 3.x is a new version of the language, which is incompatible with the 2.x
 line of releases.  The language is mostly the same, but many details, especially