diff --git a/NEWS b/NEWS
index 1a4ee2ac48c..5adc58e1b5e 100644
--- a/NEWS
+++ b/NEWS
@@ -55,9 +55,19 @@ included in the vX.Y.Z section and be denoted as:
    (** also appeared: A.B.C)  -- indicating that this item was previously
                                  included in release version vA.B.C.
 
-3.1.2 -- September, 2018
+3.1.2 -- August, 2018
 ------------------------
 
+- Assorted Portals 4.0 bug fixes.
+- Fix for possible data corruption in MPI_BSEND.
+- Move shared memory file for vader btl into /dev/shm on Linux.
+- Fix for MPI_ISCATTER/MPI_ISCATTERV Fortran interfaces with MPI_IN_PLACE.
+- Upgrade PMIx to v2.1.3.
+- Numerous One-sided bug fixes.
+- Fix for race condition in uGNI BTL.
+- Improve handling of large number of interfaces with TCP BTL.
+- Numerous UCX bug fixes.
+
 3.1.1 -- June, 2018
 -------------------
 
diff --git a/VERSION b/VERSION
index c542de536fc..a8b155a2af6 100644
--- a/VERSION
+++ b/VERSION
@@ -26,7 +26,7 @@ release=2
 # requirement is that it must be entirely printable ASCII characters
 # and have no white space.
 
-greek=a1
+greek=rc1
 
 # If repo_rev is empty, then the repository version number will be
 # obtained during "make dist" via the "git describe --tags --always"
@@ -84,14 +84,14 @@ date="Unreleased developer copy"
 # Version numbers are described in the Libtool current:revision:age
 # format.
 
-libmpi_so_version=50:1:10
+libmpi_so_version=50:2:10
 libmpi_cxx_so_version=50:0:10
-libmpi_mpifh_so_version=50:1:10
+libmpi_mpifh_so_version=51:2:11
 libmpi_usempi_tkr_so_version=50:1:10
 libmpi_usempi_ignore_tkr_so_version=50:1:10
 libmpi_usempif08_so_version=50:1:10
-libopen_rte_so_version=50:1:10
-libopen_pal_so_version=50:1:10
+libopen_rte_so_version=50:2:10
+libopen_pal_so_version=50:2:10
 libmpi_java_so_version=50:0:10
 liboshmem_so_version=50:1:10
 libompitrace_so_version=50:0:10