diff --git a/configure.ac b/configure.ac
index 9f5660655c352b497c57182626b5018ffa2b974c..3dd9e4e477308031c0ba14f7369d9f11300699c6 100644
--- a/configure.ac
+++ b/configure.ac
@@ -1,8 +1,8 @@
 # Configure script for Ganeti
 m4_define([gnt_version_major], [2])
-m4_define([gnt_version_minor], [0])
-m4_define([gnt_version_revision], [4])
-m4_define([gnt_version_suffix], [])
+m4_define([gnt_version_minor], [1])
+m4_define([gnt_version_revision], [0])
+m4_define([gnt_version_suffix], [~beta0])
 m4_define([gnt_version_full],
           m4_format([%d.%d.%d%s],
                     gnt_version_major, gnt_version_minor,