diff --git a/Makefile b/Makefile
index 9e0abff..3f4a174 100644
--- a/Makefile
+++ b/Makefile
@@ -9,9 +9,9 @@
 # CONFIG_LOCALVERSION from some future config system.
 #
 VERSION = 1
-PATCHLEVEL = 1
+PATCHLEVEL = 2
 SUBLEVEL = 0
-EXTRAVERSION =
+EXTRAVERSION =-rc1
 LOCAL_VERSION =
 CONFIG_LOCALVERSION =