diff --git a/configure.ac b/configure.ac
index f9fbd46d2..4039bf314 100644
--- a/configure.ac
+++ b/configure.ac
@@ -4,7 +4,7 @@ dnl $Id$
 AC_PREREQ([2.69])
 
 dnl Set version info here!
-AC_INIT([tcpreplay],[4.2.6],
+AC_INIT([tcpreplay],[4.2.7-beta1],
     [https://github.com/appneta/tcpreplay/issues],
     [tcpreplay],
     [http://tcpreplay.sourceforge.net/])
diff --git a/docs/CHANGELOG b/docs/CHANGELOG
index 957736201..2bcd1b05d 100644
--- a/docs/CHANGELOG
+++ b/docs/CHANGELOG
@@ -1,3 +1,6 @@
+05/27/2017 Version 4.2.7-beta1
+    - Fix sleep calculations when using multiple pcap files (#399)
+
 05/10/2017 Version 4.2.6
     - Test fails on sparc64 (#393)