diff --git a/NEWS b/NEWS
index 6e9c6c2..e059505 100644
--- a/NEWS
+++ b/NEWS
@@ -1,4 +1,4 @@
-portage-3.0.48 (UNRELEASED)
+portage-3.0.48 (2023-06-01)
 --------------
 Breaking changes:
 * Output deprecation warnings for portageq, prepstrip and prepallstrip
diff --git a/setup.py b/setup.py
index 066365a..3545acb 100755
--- a/setup.py
+++ b/setup.py
@@ -816,7 +816,7 @@
 
 setup(
     name="portage",
-    version="3.0.47",
+    version="3.0.48",
     url="https://wiki.gentoo.org/wiki/Project:Portage",
     project_urls={
         "Release Notes": "https://gitweb.gentoo.org/proj/portage.git/plain/NEWS",