diff --git a/sphinx/__init__.py b/sphinx/__init__.py
index 6fd96bdc1..1cdef631f 100644
--- a/sphinx/__init__.py
+++ b/sphinx/__init__.py
@@ -12,8 +12,8 @@
 import sys
 from os import path
 
-__version__ = '1.0pre'
-__released__ = '1.0 (hg)'  # used when Sphinx builds its own docs
+__version__ = '1.0b1'
+__released__ = '1.0b1'  # used when Sphinx builds its own docs
 
 package_dir = path.abspath(path.dirname(__file__))