diff --git a/Include/patchlevel.h b/Include/patchlevel.h
index fb792a1ddfa..9aa6c4e7236 100644
--- a/Include/patchlevel.h
+++ b/Include/patchlevel.h
@@ -18,12 +18,12 @@
 /*--start constants--*/
 #define PY_MAJOR_VERSION	3
 #define PY_MINOR_VERSION	4
-#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      	"3.4.5+"
+#define PY_VERSION      	"3.4.6rc1"
 /*--end constants--*/
 
 /* Version as a single 4-byte hex number, e.g. 0x010502B2 == 1.5.2b2.
diff --git a/Misc/NEWS b/Misc/NEWS
index 39ca04910a3..211de47e829 100644
--- a/Misc/NEWS
+++ b/Misc/NEWS
@@ -5,7 +5,7 @@ Python News
 What's New in Python 3.4.6rc1?
 ==============================
 
-Release date: TBA
+Release date: 2017-01-02
 
 Core and Builtins
 -----------------
diff --git a/README b/README
index 6c98ef11e97..eca5a281457 100644
--- a/README
+++ b/README
@@ -1,5 +1,5 @@
-This is Python version 3.4.5
-============================
+This is Python version 3.4.6 release candidate 1
+================================================
 
 Copyright (c) 2001, 2002, 2003, 2004, 2005, 2006, 2007, 2008, 2009, 2010, 2011,
 2012, 2013, 2014, 2015, 2016, 2017 Python Software Foundation.  All rights