diff --git a/CHANGELOG.md b/CHANGELOG.md
index ef428739d..26d9ffd8c 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -5,7 +5,9 @@ All notable changes to this project will be documented in this file.
 The format is loosely based on [Keep a Changelog](http://keepachangelog.com/en/1.0.0/).
 
 
-## Unreleased
+## 4.8.0-rc1
+
+This is a pre-release version.
 
 #### Added
 
@@ -26,6 +28,7 @@ The format is loosely based on [Keep a Changelog](http://keepachangelog.com/en/1
 
 * **Breaking change:** `SetupSequence` now overrides pre-existing setups like all other `Setup` methods do. This means that exhausted sequences no longer fall back to previous setups to produce a "default" action or return value. (@stakx, #476)
 * Delegates passed to `Returns` are validated a little more strictly than before (return type and parameter count must match with method being set up) (@stakx, #520)
+* Change assembly versioning scheme to `major.minor.0.0` to help prevent assembly version conflicts and to reduce the need for binding redirects (@stakx, #424)
 
 #### Fixed
 
diff --git a/GitInfo.txt b/GitInfo.txt
index f6cdf4098..d5c14bbcd 100644
--- a/GitInfo.txt
+++ b/GitInfo.txt
@@ -1 +1 @@
-4.7.0
+4.8.0-rc1
diff --git a/Moq.nuspec b/Moq.nuspec
index 466c50ca0..3f2cb6608 100644
--- a/Moq.nuspec
+++ b/Moq.nuspec
@@ -2,7 +2,7 @@
 <package xmlns="http://schemas.microsoft.com/packaging/2011/08/nuspec.xsd">
 	<metadata>
 		<id>Moq</id>
-		<version>4.7</version>
+		<version>4.8.0-rc1</version>
 		<title>Moq: an enjoyable mocking library</title>
 		<authors>Daniel Cazzulino, kzu</authors>
 		<owners>Daniel Cazzulino, Clarius Labs, kzu</owners>
@@ -11,7 +11,7 @@
 		<requireLicenseAcceptance>false</requireLicenseAcceptance>
 		<description>Moq is the most popular and friendly mocking framework for .NET</description>
 		<tags>moq tdd mocking mocks unittesting agile unittest</tags>
-		<releaseNotes>A changelog is available at https://github.com/moq/moq4/blob/master/CHANGELOG.md.</releaseNotes>
+		<releaseNotes>A changelog is available at https://github.com/moq/moq4/blob/v4.8.0-rc1/CHANGELOG.md.</releaseNotes>
 		<dependencies>
 			<group targetFramework=".NETFramework4.5">
 				<dependency id="Castle.Core" version="4.2.1" />
diff --git a/Source/Properties/AssemblyInfo.cs b/Source/Properties/AssemblyInfo.cs
index fb7ee2a6c..273fef2a8 100644
--- a/Source/Properties/AssemblyInfo.cs
+++ b/Source/Properties/AssemblyInfo.cs
@@ -9,9 +9,9 @@
 [assembly: AssemblyProduct("Moq")]
 [assembly: AssemblyTrademark("")]
 [assembly: AssemblyCulture("")]
-[assembly: AssemblyVersion (ThisAssembly.Git.SemVer.Major + "." + ThisAssembly.Git.SemVer.Minor + "." + ThisAssembly.Git.SemVer.Patch)]
+[assembly: AssemblyVersion (ThisAssembly.Git.SemVer.Major + "." + ThisAssembly.Git.SemVer.Minor + ".0.0")]
 [assembly: AssemblyFileVersion (ThisAssembly.Git.SemVer.Major + "." + ThisAssembly.Git.SemVer.Minor + "." + ThisAssembly.Git.SemVer.Patch)]
-[assembly: AssemblyInformationalVersion (ThisAssembly.Git.SemVer.Major + "." + ThisAssembly.Git.SemVer.Minor + "." + ThisAssembly.Git.SemVer.Patch + "-" + ThisAssembly.Git.Branch + "+" + ThisAssembly.Git.Commit)]
+[assembly: AssemblyInformationalVersion (ThisAssembly.Git.SemVer.Major + "." + ThisAssembly.Git.SemVer.Minor + "." + ThisAssembly.Git.SemVer.Patch + "-" + ThisAssembly.Git.SemVer.Label + "+" + ThisAssembly.Git.Commit)]
 
 [assembly: ComVisible(false)]