diff --git a/djangorestframework/__init__.py b/djangorestframework/__init__.py
index d4fcd9a5f..55f92cc4b 100644
--- a/djangorestframework/__init__.py
+++ b/djangorestframework/__init__.py
@@ -1,3 +1,3 @@
-__version__ = '0.3.1'
+__version__ = '0.3.2-dev'
 
 VERSION = __version__  # synonym