diff --git a/RAILS_VERSION b/RAILS_VERSION
index dd8b7cd23bf76b3d4a9ce308a189438b6eb8dcdd..8733761b56b8fdada70f90bccb0ae4517890cd5f 100644
--- a/RAILS_VERSION
+++ b/RAILS_VERSION
@@ -1 +1 @@
-3.2.0.beta
+3.2.0.rc1
diff --git a/actionmailer/lib/action_mailer/version.rb b/actionmailer/lib/action_mailer/version.rb
index b74ba3cb0d23931ccfb05fd05a0432763bcab35b..b33733fb6a023e8f7c810fd09745d4395a98f465 100644
--- a/actionmailer/lib/action_mailer/version.rb
+++ b/actionmailer/lib/action_mailer/version.rb
@@ -3,7 +3,7 @@ module VERSION #:nodoc:
     MAJOR = 3
     MINOR = 2
     TINY  = 0
-    PRE   = "beta"
+    PRE   = "rc1"
 
     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 add6b56425e58e47feb0db7103b386bb2f6edf8c..d9bb41e80c28020b2977bc2aaa774b2b1eb4bd81 100644
--- a/actionpack/lib/action_pack/version.rb
+++ b/actionpack/lib/action_pack/version.rb
@@ -3,7 +3,7 @@ module VERSION #:nodoc:
     MAJOR = 3
     MINOR = 2
     TINY  = 0
-    PRE   = "beta"
+    PRE   = "rc1"
 
     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 dbda55ca7c2cd8dc0380bec0916c2e504c0841e6..834cbf96e339e9c0a37148fd46b9398c8313f9f1 100644
--- a/activemodel/lib/active_model/version.rb
+++ b/activemodel/lib/active_model/version.rb
@@ -3,7 +3,7 @@ module VERSION #:nodoc:
     MAJOR = 3
     MINOR = 2
     TINY  = 0
-    PRE   = "beta"
+    PRE   = "rc1"
 
     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 838aa8fb1e579c8d1513952cff00bce6245140eb..2e16a52392e39daca2fd0bec1e606c2f6d01bd8d 100644
--- a/activerecord/lib/active_record/version.rb
+++ b/activerecord/lib/active_record/version.rb
@@ -3,7 +3,7 @@ module VERSION #:nodoc:
     MAJOR = 3
     MINOR = 2
     TINY  = 0
-    PRE   = "beta"
+    PRE   = "rc1"
 
     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 d53374b261c3b46e3c150f37921b13e9b0ba2511..1cb96ac005e0a845827bd8ba8bcc71349afa6386 100644
--- a/activeresource/lib/active_resource/version.rb
+++ b/activeresource/lib/active_resource/version.rb
@@ -3,7 +3,7 @@ module VERSION #:nodoc:
     MAJOR = 3
     MINOR = 2
     TINY  = 0
-    PRE   = "beta"
+    PRE   = "rc1"
 
     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 bd8e7f907aab38b72c99d2394848fd48911855a8..f1387c9f39c80159e17da1fe448faffc37f0743e 100644
--- a/activesupport/lib/active_support/version.rb
+++ b/activesupport/lib/active_support/version.rb
@@ -3,7 +3,7 @@ module VERSION #:nodoc:
     MAJOR = 3
     MINOR = 2
     TINY  = 0
-    PRE   = "beta"
+    PRE   = "rc1"
 
     STRING = [MAJOR, MINOR, TINY, PRE].compact.join('.')
   end
diff --git a/railties/lib/rails/version.rb b/railties/lib/rails/version.rb
index 254227ecf7f84534475bd3112e4b755354019cc8..9844cbe34b79e4dd4dcfd1d91609c9f0d4065b13 100644
--- a/railties/lib/rails/version.rb
+++ b/railties/lib/rails/version.rb
@@ -3,7 +3,7 @@ module VERSION #:nodoc:
     MAJOR = 3
     MINOR = 2
     TINY  = 0
-    PRE   = "beta"
+    PRE   = "rc1"
 
     STRING = [MAJOR, MINOR, TINY, PRE].compact.join('.')
   end
diff --git a/version.rb b/version.rb
index 254227ecf7f84534475bd3112e4b755354019cc8..9844cbe34b79e4dd4dcfd1d91609c9f0d4065b13 100644
--- a/version.rb
+++ b/version.rb
@@ -3,7 +3,7 @@ module VERSION #:nodoc:
     MAJOR = 3
     MINOR = 2
     TINY  = 0
-    PRE   = "beta"
+    PRE   = "rc1"
 
     STRING = [MAJOR, MINOR, TINY, PRE].compact.join('.')
   end