diff --git a/changelog.txt b/changelog.txt
index 118faacddd..8f914763e2 100644
--- a/changelog.txt
+++ b/changelog.txt
@@ -1,3 +1,24 @@
+1.5.1-RC1 (2015-05-08)
+------------------------------------------------------------------------
+- Fix: Do not consider road junctions with trivial dead ends as branch points during town growth [FS#6245] (r27260, r27259, r27244)
+- Fix: ScriptList::RemoveList failed to remove a list from itself [FS#6287] (r27258)
+- Fix: Combined button+dropdown widgets in order and autoreplace GUI had incorrect hitbox when using GUI zoom [FS#6270] (r27255)
+- Fix: When building a lock on DC_AUTO-removable water-based objects, the water class was always set to canal [FS#6264] (r27254)
+- Fix: When crossing tram tracks with railroads, cost of extra roads was not being counted [FS#6282] (r27253)
+- Fix: Invalid infrastructure counting when crossing tram tracks with railroads [FS#6281] (r27252)
+- Fix: Broken error message in configure [FS#6286] (r27250)
+- Fix: In some cases town growth failure was considered as success [FS#6240] (r27249, r27247)
+- Fix: Town labels on smallmap and zoomed-out viewports were not centered [FS#6257] (r27248)
+- Fix: Removing a rail waypoint used the remove-rail-station cost [FS#6251] (r27245)
+- Fix: Duplicate frees due to pool item classes not having copy constructors [FS#6285] (r27243)
+- Fix: Crash when no AIs were installed due to improper handling of non-ASCII characters by the string pointer lexer [FS#6272] (r27233)
+- Fix: Compilation on DragonflyBSD [FS#6274] (r27224, r27223)
+- Fix: Use the current maximum speed as limited by bridges, orders etc. for all vehicle types alike when considering increased smoke emissions of vehicles [FS#6278] (r27222)
+- Fix: Multi-value keys in the desktop entry shall end with a trailing separator (r27221)
+- Fix: Draw path reservation on the whole bridge, not only on the bridge heads (r27209)
+- Fix: Draw correct overlay sprites for path reservations on bridges and tunnels (r27208)
+
+
 1.5.0 (2015-04-01)
 ------------------------------------------------------------------------
 - Fix: [NewGRF] Add Misc. GRF Feature Flag 6 to enable the second rocky tile set [FS#6260] (r27200)
diff --git a/known-bugs.txt b/known-bugs.txt
index fdb2349ea4..50bded8cb4 100644
--- a/known-bugs.txt
+++ b/known-bugs.txt
@@ -1,6 +1,6 @@
 OpenTTD's known bugs
-Last updated:    2015-04-01
-Release version: 1.5.0
+Last updated:    2015-05-08
+Release version: 1.5.1-RC1
 ------------------------------------------------------------------------
 
 
diff --git a/os/debian/changelog b/os/debian/changelog
index 5282d13b01..ac1de8a738 100644
--- a/os/debian/changelog
+++ b/os/debian/changelog
@@ -1,3 +1,9 @@
+openttd (1.5.1~RC1-0) unstable; urgency=low
+
+  * New upstream release 1.5.1-RC1
+
+ -- OpenTTD <info@openttd.org>  Fri, 08 May 2015 21:00:00 +0200
+
 openttd (1.5.0-0) unstable; urgency=low
 
   * New upstream release 1.5.0
diff --git a/os/windows/installer/install.nsi b/os/windows/installer/install.nsi
index 7bc6a5a4ef..b7c16f574e 100644
--- a/os/windows/installer/install.nsi
+++ b/os/windows/installer/install.nsi
@@ -1,9 +1,9 @@
 # Version numbers to update
 !define APPV_MAJOR 1
 !define APPV_MINOR 5
-!define APPV_MAINT 0
-!define APPV_BUILD 3
-!define APPV_EXTRA ""
+!define APPV_MAINT 1
+!define APPV_BUILD 0
+!define APPV_EXTRA "-RC1"
 
 !define APPNAME "OpenTTD"   ; Define application name
 !define APPVERSION "${APPV_MAJOR}.${APPV_MINOR}.${APPV_MAINT}${APPV_EXTRA}"  ; Define application version
diff --git a/readme.txt b/readme.txt
index 03cef97079..eb069e1aa7 100644
--- a/readme.txt
+++ b/readme.txt
@@ -1,5 +1,5 @@
-Last updated:    2015-04-01
-Release version: 1.5.0
+Last updated:    2015-05-08
+Release version: 1.5.1-RC1
 ------------------------------------------------------------------------
 
 
diff --git a/src/script/api/ai_changelog.hpp b/src/script/api/ai_changelog.hpp
index 514880757a..72ff90d5cc 100644
--- a/src/script/api/ai_changelog.hpp
+++ b/src/script/api/ai_changelog.hpp
@@ -15,6 +15,10 @@
  * functions may still be available if you return an older API version
  * in GetAPIVersion() in info.nut.
  *
+ * \b 1.5.1
+ *
+ * No changes
+ *
  * \b 1.5.0
  *
  * API additions:
diff --git a/src/script/api/game_changelog.hpp b/src/script/api/game_changelog.hpp
index 93ec153762..c5ff87fd41 100644
--- a/src/script/api/game_changelog.hpp
+++ b/src/script/api/game_changelog.hpp
@@ -15,6 +15,10 @@
  * functions may still be available if you return an older API version
  * in GetAPIVersion() in info.nut.
  *
+ * \b 1.5.1
+ *
+ * No changes
+ *
  * \b 1.5.0
  *
  * API additions: