diff --git a/configure.ac b/configure.ac
index 302075e3..5abf65fb 100644
--- a/configure.ac
+++ b/configure.ac
@@ -1,6 +1,6 @@
 m4_define([weston_major_version], [1])
-m4_define([weston_minor_version], [2])
-m4_define([weston_micro_version], [92])
+m4_define([weston_minor_version], [3])
+m4_define([weston_micro_version], [0])
 m4_define([weston_version],
           [weston_major_version.weston_minor_version.weston_micro_version])