diff --git a/build/build.xml b/build/build.xml
index 67e6e37..d9c1897 100644
--- a/build/build.xml
+++ b/build/build.xml
@@ -62,8 +62,8 @@
     <!-- ======================================================================================= -->
 
     <property name="version.major" value="3"/>
-    <property name="version.minor" value="4"/>
-    <property name="version.revision" value="5"/>
+    <property name="version.minor" value="5"/>
+    <property name="version.revision" value="0"/>
     <property name="version.extra" value=""/> <!-- For 'beta' or 'alpha' -->
     <property name="dist.prefix" value="connection_manager"/>
 
diff --git a/src/java/org/jivesoftware/multiplexer/ConnectionManager.java b/src/java/org/jivesoftware/multiplexer/ConnectionManager.java
index c3a5f3f..04b5dd2 100644
--- a/src/java/org/jivesoftware/multiplexer/ConnectionManager.java
+++ b/src/java/org/jivesoftware/multiplexer/ConnectionManager.java
@@ -148,7 +148,7 @@
         name = JiveGlobals.getXMLProperty("xmpp.manager.name", StringUtils.randomString(5)).toLowerCase();
         serverName = JiveGlobals.getXMLProperty("xmpp.domain");
 
-        version = new Version(3, 4, 5, Version.ReleaseStatus.Release, -1);
+        version = new Version(3, 5, 0, Version.ReleaseStatus.Release, -1);
         if (serverName != null) {
             setupMode = false;
         }