diff --git a/RELEASE-NOTES b/RELEASE-NOTES
index 0e736b8..6261476 100644
--- a/RELEASE-NOTES
+++ b/RELEASE-NOTES
@@ -1,6 +1,14 @@
 Release Notes; upgrade information mainly.
 Features/major bugfixes are listed in NEWS
 
+portage-2.3.47
+==================================
+* Bug Fixes:
+    - Bug 636674 add make.conf.example for arm
+    - Bug 663848 fix bugs in FEATURES=test to USE=test mapping
+    - Bug 663904 map empty ROOT environment variable to /
+
+
 portage-2.3.46
 ==================================
 * Bug Fixes:
diff --git a/setup.py b/setup.py
index 8844b7f..529f336 100755
--- a/setup.py
+++ b/setup.py
@@ -662,7 +662,7 @@
 
 setup(
 	name = 'portage',
-	version = '2.3.46',
+	version = '2.3.47',
 	url = 'https://wiki.gentoo.org/wiki/Project:Portage',
 	author = 'Gentoo Portage Development Team',
 	author_email = 'dev-portage@gentoo.org',