diff --git a/VERSION b/VERSION
index f6388de..39e898a 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-0.7.0-rc6
+0.7.1
diff --git a/functional-tests/functional-tests.scm b/functional-tests/functional-tests.scm
index 5bb20b4..61f767d 100644
--- a/functional-tests/functional-tests.scm
+++ b/functional-tests/functional-tests.scm
@@ -180,7 +180,7 @@
   ;;-----------------------------------------------
 
   ;; FIXME: don't hard code this
-  (define tools-version "0.7.0-rc6")
+  (define tools-version "0.7.1")
 
   (define (tool-name sym)
     (define (to-underscore c)