diff --git a/Makefile b/Makefile
index 85e36ecff5..6e8b5a7764 100644
--- a/Makefile
+++ b/Makefile
@@ -22,9 +22,9 @@
 #
 
 VERSION = 2012
-PATCHLEVEL = 04
-SUBLEVEL = 01
-EXTRAVERSION =
+PATCHLEVEL = 07
+SUBLEVEL =
+EXTRAVERSION = -rc1
 ifneq "$(SUBLEVEL)" ""
 U_BOOT_VERSION = $(VERSION).$(PATCHLEVEL).$(SUBLEVEL)$(EXTRAVERSION)
 else