diff --git a/configure.ac b/configure.ac
index 6471d0084a..29a3498a30 100644
--- a/configure.ac
+++ b/configure.ac
@@ -8,15 +8,15 @@ AM_CONFIG_HEADER(config.h)
 
 GST_VERSION_MAJOR=0
 GST_VERSION_MINOR=3
-GST_VERSION_MICRO=2
+GST_VERSION_MICRO=1
 
 dnl we use a datestamped release tag and a fourth version ".1" number
 dnl during CVS development
-dnl GST_VERSION_RELEASE=`date +%Y%m%d`
-dnl GST_VERSION=$GST_VERSION_MAJOR.$GST_VERSION_MINOR.$GST_VERSION_MICRO.3
+GST_VERSION_RELEASE=`date +%Y%m%d`
+GST_VERSION=$GST_VERSION_MAJOR.$GST_VERSION_MINOR.$GST_VERSION_MICRO.3
 dnl we use a normal release tag increased manually when releasing
-GST_VERSION_RELEASE=1
-GST_VERSION=$GST_VERSION_MAJOR.$GST_VERSION_MINOR.$GST_VERSION_MICRO
+dnl GST_VERSION_RELEASE=1
+dnl GST_VERSION=$GST_VERSION_MAJOR.$GST_VERSION_MINOR.$GST_VERSION_MICRO
 
 PACKAGE=gstreamer
 VERSION=$GST_VERSION