diff --git a/React.podspec b/React.podspec
index 8d042951e07..c444c5edfb1 100644
--- a/React.podspec
+++ b/React.podspec
@@ -4,7 +4,7 @@ package = JSON.parse(File.read(File.join(__dir__, 'package.json')))
 
 Pod::Spec.new do |s|
   s.name                = "React"
-  s.version             = package['version']
+  s.version             = "0.40.0-rc.0"
   s.summary             = package['description']
   s.description         = <<-DESC
                             React Native apps are built using the React JS
diff --git a/ReactAndroid/gradle.properties b/ReactAndroid/gradle.properties
index 9b7ac6d1254..c31716d1e52 100644
--- a/ReactAndroid/gradle.properties
+++ b/ReactAndroid/gradle.properties
@@ -1,4 +1,4 @@
-VERSION_NAME=1000.0.0-master
+VERSION_NAME=0.40.0-rc.0
 GROUP=com.facebook.react
 
 POM_NAME=ReactNative
diff --git a/package.json b/package.json
index c28f0107dd7..78afeece6ef 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "react-native",
-  "version": "1000.0.0",
+  "version": "0.40.0-rc.0",
   "description": "A framework for building native apps using React",
   "license": "BSD-3-Clause",
   "repository": {
@@ -222,4 +222,4 @@
     "sinon": "^2.0.0-pre.2",
     "split": "1.0.0"
   }
-}
+}
\ No newline at end of file