diff --git a/docs/changelog/index.rst b/docs/changelog/index.rst
index 0523ff1..c85c288 100644
--- a/docs/changelog/index.rst
+++ b/docs/changelog/index.rst
@@ -1,6 +1,12 @@
 Changelog
 =========
 
+0.4.8
+~~~~~
+
+  - Dropped Python 3.7 support
+  - Added "wheel" packaging format
+
 0.4.7
 ~~~~~
 
diff --git a/grpclib/__init__.py b/grpclib/__init__.py
index c8bb7dc..38f76d7 100644
--- a/grpclib/__init__.py
+++ b/grpclib/__init__.py
@@ -1,7 +1,7 @@
 from .const import Status
 from .exceptions import GRPCError
 
-__version__ = '0.4.7'
+__version__ = '0.4.8rc1'
 
 __all__ = (
     'Status',