diff --git a/CMakeLists.txt b/CMakeLists.txt
index 2f270fb12..e78e62e92 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -15,7 +15,7 @@ INCLUDE(FindPkgConfig)
 
 SET(VERSION_MAJOR "0")
 SET(VERSION_MINOR "4")
-SET(VERSION_PATCH "7")
+SET(VERSION_PATCH "8")
 #SET(VERSION_SUFFIX "")
 SET(VERSION "${VERSION_MAJOR}.${VERSION_MINOR}.${VERSION_PATCH}")
 IF(VERSION_SUFFIX)
diff --git a/README b/README
index bbd10f11b..b055d9d0e 100644
--- a/README
+++ b/README
@@ -1,4 +1,4 @@
-Linux MultiMedia Studio 0.4.7
+Linux MultiMedia Studio 0.4.8
 ==============================
 
 Copyright (c) 2004-2010 by LMMS-developers