diff --git a/NEWS b/NEWS
index daad97e0595845ebc79a7ceaf66077d72a22e249..89a9c9b5508c8cf5e9c0c99d47ab82e9124c7874 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,31 @@
+v0.4.7 xx-03-2015 Stephan Bosch <stephan@rename-it.nl>
+
+	* editheader extension: Made protection against addition and deletion of
+	  headers configurable separately. Also, the `Received' and `Auto-Submitted'
+	  headers are no longer protected against addition by default.
+	* Turned message envelope address parse errors into warnings.
+	* The interpreter now accepts non-standard domain names, e.g. containing '_'.
+	+ Implemented the Sieve index extension (RFC 5260).
+	+ Implemented support for the mboxmetadata and servermetadata extensions
+	  (RFC 5490).
+	+ Implemented new sieve commands for the doveadm command line utility. These
+	  commands are currently limited to ManageSieve operations, but the other
+	  current sieve tools will be migrated to doveadm in the near future as well.
+	+ Added more debug output to binary up-to-date checking.
+	- The Sieve interpreter now flushes duplicate database during start phase of
+	  result execution rather than commit phase. This makes sure locks on the
+	  duplicate database are released as soon as possible, preventing contention.
+	- Performed a few optimizations in the lexical scanner of the language.
+	- Fixed bug in `:matches' match-type that made a pattern without
+	  wildcards match as if there were a '*' at the beginning.
+	- file storage: Restructured storage initialization to address backwards
+	  compatibility issues.
+	- Fixed crash in validation of the string parameter of the comparator tag.
+	- extprograms extension: Made sure supplemental group privileges are also
+	  dropped. This was a problem reported by Debian lintian.
+	- Fixed bug in handling of binary errors for action side-effects and message
+	  overrides.
+
 v0.4.6 02-11-2014 Stephan Bosch <stephan@rename-it.nl>
 
 	- After make distclean the distributed tarball would fail to recompile.
diff --git a/configure.ac b/configure.ac
index 0ccaa94037bbfcc6644fb83156183a911b794a38..a4aba79a807520c94bec9378f1c7d265a28590dc 100644
--- a/configure.ac
+++ b/configure.ac
@@ -1,4 +1,4 @@
-AC_INIT([Pigeonhole], [0.4.6], [dovecot@dovecot.org], [dovecot-2.2-pigeonhole])
+AC_INIT([Pigeonhole], [0.4.7.rc1], [dovecot@dovecot.org], [dovecot-2.2-pigeonhole])
 AC_CONFIG_AUX_DIR([.])
 AC_CONFIG_SRCDIR([src])
 AC_CONFIG_MACRO_DIR([m4])