diff --git a/RAILS_VERSION b/RAILS_VERSION
index 8733761b56b8f..e1e048d8f0495 100644
--- a/RAILS_VERSION
+++ b/RAILS_VERSION
@@ -1 +1 @@
-3.2.0.rc1
+4.0.0.beta
diff --git a/actionmailer/lib/action_mailer/version.rb b/actionmailer/lib/action_mailer/version.rb
index b33733fb6a023..0cb5dc6d6465c 100644
--- a/actionmailer/lib/action_mailer/version.rb
+++ b/actionmailer/lib/action_mailer/version.rb
@@ -1,9 +1,9 @@
 module ActionMailer
   module VERSION #:nodoc:
-    MAJOR = 3
-    MINOR = 2
+    MAJOR = 4
+    MINOR = 0
     TINY  = 0
-    PRE   = "rc1"
+    PRE   = "beta"
 
     STRING = [MAJOR, MINOR, TINY, PRE].compact.join('.')
   end
diff --git a/actionpack/lib/action_pack/version.rb b/actionpack/lib/action_pack/version.rb
index d9bb41e80c280..94cbc8e478759 100644
--- a/actionpack/lib/action_pack/version.rb
+++ b/actionpack/lib/action_pack/version.rb
@@ -1,9 +1,9 @@
 module ActionPack
   module VERSION #:nodoc:
-    MAJOR = 3
-    MINOR = 2
+    MAJOR = 4
+    MINOR = 0
     TINY  = 0
-    PRE   = "rc1"
+    PRE   = "beta"
 
     STRING = [MAJOR, MINOR, TINY, PRE].compact.join('.')
   end
diff --git a/activemodel/lib/active_model/version.rb b/activemodel/lib/active_model/version.rb
index 834cbf96e339e..e195c12a4d021 100644
--- a/activemodel/lib/active_model/version.rb
+++ b/activemodel/lib/active_model/version.rb
@@ -1,9 +1,9 @@
 module ActiveModel
   module VERSION #:nodoc:
-    MAJOR = 3
-    MINOR = 2
+    MAJOR = 4
+    MINOR = 0
     TINY  = 0
-    PRE   = "rc1"
+    PRE   = "beta"
 
     STRING = [MAJOR, MINOR, TINY, PRE].compact.join('.')
   end
diff --git a/activerecord/lib/active_record/version.rb b/activerecord/lib/active_record/version.rb
index 2e16a52392e39..0c35adc11deea 100644
--- a/activerecord/lib/active_record/version.rb
+++ b/activerecord/lib/active_record/version.rb
@@ -1,9 +1,9 @@
 module ActiveRecord
   module VERSION #:nodoc:
-    MAJOR = 3
-    MINOR = 2
+    MAJOR = 4
+    MINOR = 0
     TINY  = 0
-    PRE   = "rc1"
+    PRE   = "beta"
 
     STRING = [MAJOR, MINOR, TINY, PRE].compact.join('.')
   end
diff --git a/activeresource/lib/active_resource/version.rb b/activeresource/lib/active_resource/version.rb
index 1cb96ac005e0a..d02784bd5dfb8 100644
--- a/activeresource/lib/active_resource/version.rb
+++ b/activeresource/lib/active_resource/version.rb
@@ -1,9 +1,9 @@
 module ActiveResource
   module VERSION #:nodoc:
-    MAJOR = 3
-    MINOR = 2
+    MAJOR = 4
+    MINOR = 0
     TINY  = 0
-    PRE   = "rc1"
+    PRE   = "beta"
 
     STRING = [MAJOR, MINOR, TINY, PRE].compact.join('.')
   end
diff --git a/activesupport/lib/active_support/version.rb b/activesupport/lib/active_support/version.rb
index f1387c9f39c80..8a8f8f946d0e0 100644
--- a/activesupport/lib/active_support/version.rb
+++ b/activesupport/lib/active_support/version.rb
@@ -1,9 +1,9 @@
 module ActiveSupport
   module VERSION #:nodoc:
-    MAJOR = 3
-    MINOR = 2
+    MAJOR = 4
+    MINOR = 0
     TINY  = 0
-    PRE   = "rc1"
+    PRE   = "beta"
 
     STRING = [MAJOR, MINOR, TINY, PRE].compact.join('.')
   end
diff --git a/railties/lib/rails/version.rb b/railties/lib/rails/version.rb
index 9844cbe34b79e..ec878f9dcf663 100644
--- a/railties/lib/rails/version.rb
+++ b/railties/lib/rails/version.rb
@@ -1,9 +1,9 @@
 module Rails
   module VERSION #:nodoc:
-    MAJOR = 3
-    MINOR = 2
+    MAJOR = 4
+    MINOR = 0
     TINY  = 0
-    PRE   = "rc1"
+    PRE   = "beta"
 
     STRING = [MAJOR, MINOR, TINY, PRE].compact.join('.')
   end
diff --git a/version.rb b/version.rb
index 9844cbe34b79e..ec878f9dcf663 100644
--- a/version.rb
+++ b/version.rb
@@ -1,9 +1,9 @@
 module Rails
   module VERSION #:nodoc:
-    MAJOR = 3
-    MINOR = 2
+    MAJOR = 4
+    MINOR = 0
     TINY  = 0
-    PRE   = "rc1"
+    PRE   = "beta"
 
     STRING = [MAJOR, MINOR, TINY, PRE].compact.join('.')
   end