diff --git a/Makefile b/Makefile
index c9b13ac27..a09aa66c9 100644
--- a/Makefile
+++ b/Makefile
@@ -98,7 +98,7 @@ endif
 export CROSS_COMPILING
 
 ifndef VERSION
-VERSION=1.0.2
+VERSION=1.0.3
 endif
 
 ifndef VM_PREFIX
diff --git a/code/game/bg_public.h b/code/game/bg_public.h
index 4e769a286..9078ac48d 100644
--- a/code/game/bg_public.h
+++ b/code/game/bg_public.h
@@ -44,7 +44,7 @@ Suite 120, Rockville, Maryland 20850 USA.
 
 // Keep this in-sync with VERSION in Makefile.
 #ifndef PRODUCT_VERSION
-	#define PRODUCT_VERSION			"1.0.2"
+	#define PRODUCT_VERSION			"1.0.3"
 #endif
 
 // because games can change separately from the main system protocol, we need a