diff --git a/README.md b/README.md
index b07f660..92a077a 100644
--- a/README.md
+++ b/README.md
@@ -1,4 +1,4 @@
-# Component Builder Package (v5.0.1-alpha7)
+# Component Builder Package (v5.0.1-beta1)
 
 The Joomla Component Builder Package that bundles JCB Component and all the plugins and features available into one package for easy install and update of your JCB system for Joomla 5.
 
diff --git a/pkg_component_builder.xml b/pkg_component_builder.xml
index 0c04cc5..8d8e1bf 100644
--- a/pkg_component_builder.xml
+++ b/pkg_component_builder.xml
@@ -2,7 +2,7 @@
 <extension version="5.0" type="package" method="upgrade">
 	<name>PKG_COMPONENT_BUILDER</name>
 	<packagename>component_builder</packagename>
-	<version>5.0.1-alpha7</version>
+	<version>5.0.1-beta1</version>
 	<creationDate>July 2024</creationDate>
 	<author>Llewellyn van der Merwe</author>
 	<authorEmail>joomla@vdm.io</authorEmail>
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