diff --git a/VERSION b/VERSION
index 744cfd4739f..7fbfcf07d19 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-2.4.1.0 1
+2.4.2.0 0.1.beta1
diff --git a/lib/ansible/release.py b/lib/ansible/release.py
index 83496ecdb21..c79fc3b8e5c 100644
--- a/lib/ansible/release.py
+++ b/lib/ansible/release.py
@@ -19,5 +19,5 @@
 from __future__ import (absolute_import, division, print_function)
 __metaclass__ = type
 
-__version__ = '2.4.1.0'
+__version__ = '2.4.2.0'
 __author__ = 'Ansible, Inc.'