diff --git a/README b/README
index b8c4a87c..5514c340 100644
--- a/README
+++ b/README
@@ -1,5 +1,5 @@
 ==========
-FLAC - 0.2
+FLAC - 0.3
 ==========
 
 This is the source release for the FLAC project.  The
diff --git a/src/libFLAC/format.c b/src/libFLAC/format.c
index ed209413..051ebf65 100644
--- a/src/libFLAC/format.c
+++ b/src/libFLAC/format.c
@@ -22,7 +22,7 @@
 #include "FLAC/format.h"
 
 const unsigned FLAC__MAJOR_VERSION = 0;
-const unsigned FLAC__MINOR_VERSION = 2;
+const unsigned FLAC__MINOR_VERSION = 3;
 
 const byte     FLAC__STREAM_SYNC_STRING[4] = { 'f','L','a','C' };
 const unsigned FLAC__STREAM_SYNC = 0x664C6143;