diff --git a/configure.ac b/configure.ac
index 5aafe16d76ea4..d8ebb52196229 100644
--- a/configure.ac
+++ b/configure.ac
@@ -8,7 +8,7 @@ AC_PREREQ(2.59)
 # NOTE: This version is _only_ used for naming the tarball.  The
 # VERSION define is not used by the code.  It gets a version string
 # from 'git describe'; see src/ceph_ver.[ch]
-AC_INIT([ceph], [0.48argonaut], [ceph-devel@vger.kernel.org])
+AC_INIT([ceph], [0.49], [ceph-devel@vger.kernel.org])
 
 AC_CONFIG_SUBDIRS([src/gtest])
 AC_CONFIG_SUBDIRS([src/leveldb])
diff --git a/debian/changelog b/debian/changelog
index 7c84e875bc868..ae3a5cf141ed4 100644
--- a/debian/changelog
+++ b/debian/changelog
@@ -1,3 +1,9 @@
+ceph (0.49-1) experimental; urgency=low
+
+  * New upstream release 
+
+ -- Sage Weil <sage@newdream.net>  Fri, 20 Jul 2012 23:26:43 -0700
+
 ceph (0.48argonaut-1) experimental; urgency=low
 
   * New upstream release