diff --git a/README.rst b/README.rst
index e4c8c7f4..716f8ec4 100644
--- a/README.rst
+++ b/README.rst
@@ -2,7 +2,7 @@
  kombu - AMQP Messaging Framework for Python
 #############################################
 
-:Version: 0.1.0
+:Version: 0.2.0
 
 **THIS IS A REWRITE OF CARROT**
 
diff --git a/kombu/__init__.py b/kombu/__init__.py
index e8ffde46..f75d667d 100644
--- a/kombu/__init__.py
+++ b/kombu/__init__.py
@@ -1,5 +1,5 @@
 """AMQP Messaging Framework for Python"""
-VERSION = (0, 1, 0)
+VERSION = (0, 2, 0)
 __version__ = ".".join(map(str, VERSION))
 __author__ = "Ask Solem"
 __contact__ = "ask@celeryproject.org"