diff --git a/README b/README
index e5afc0f64c1..f8635aad263 100644
--- a/README
+++ b/README
@@ -1,6 +1,6 @@
-WiredTiger 1.2.2: (June 20, 2012)
+WiredTiger 1.2.3: (August  2, 2012)
 
-This is version 1.2.2 of WiredTiger.
+This is version 1.2.3 of WiredTiger.
 
 WiredTiger documentation can be found at:
 
diff --git a/dist/RELEASE b/RELEASE
similarity index 93%
rename from dist/RELEASE
rename to RELEASE
index 8efc6a98e36..47245eb7e43 100644
--- a/dist/RELEASE
+++ b/RELEASE
@@ -1,6 +1,6 @@
 WIREDTIGER_VERSION_MAJOR=1
 WIREDTIGER_VERSION_MINOR=2
-WIREDTIGER_VERSION_PATCH=2
+WIREDTIGER_VERSION_PATCH=3
 WIREDTIGER_VERSION="$WIREDTIGER_VERSION_MAJOR.$WIREDTIGER_VERSION_MINOR.$WIREDTIGER_VERSION_PATCH"
 
 WIREDTIGER_RELEASE_DATE=`date "+%B %e, %Y"`
diff --git a/build_posix/aclocal/version-set.m4 b/build_posix/aclocal/version-set.m4
index 849cdfa2331..8aca2dcb1bd 100644
--- a/build_posix/aclocal/version-set.m4
+++ b/build_posix/aclocal/version-set.m4
@@ -2,8 +2,8 @@ dnl build by dist/s_version
 
 VERSION_MAJOR=1
 VERSION_MINOR=2
-VERSION_PATCH=2
-VERSION_STRING='"WiredTiger 1.2.2: (June 20, 2012)"'
+VERSION_PATCH=3
+VERSION_STRING='"WiredTiger 1.2.3: (August  2, 2012)"'
 
 AC_SUBST(VERSION_MAJOR)
 AC_SUBST(VERSION_MINOR)
diff --git a/build_posix/aclocal/version.m4 b/build_posix/aclocal/version.m4
index f1371d549a6..3598dc8224b 100644
--- a/build_posix/aclocal/version.m4
+++ b/build_posix/aclocal/version.m4
@@ -1,2 +1,2 @@
 dnl WiredTiger product version for AC_INIT.  Maintained by dist/s_version
-1.2.2
+1.2.3
diff --git a/build_posix/configure.ac.in b/build_posix/configure.ac.in
index 84a2bfd1d83..8c5436ded23 100644
--- a/build_posix/configure.ac.in
+++ b/build_posix/configure.ac.in
@@ -7,7 +7,7 @@ m4_include([build_posix/aclocal/version-set.m4])
 
 AC_CONFIG_AUX_DIR([build_posix/gnu-support])
 AC_CONFIG_MACRO_DIR([build_posix/aclocal])
-AC_CONFIG_SRCDIR([dist/RELEASE])
+AC_CONFIG_SRCDIR([RELEASE])
 
 AM_INIT_AUTOMAKE([1.10 foreign])
 m4_ifdef([AM_SILENT_RULES], [AM_SILENT_RULES([no])])
diff --git a/dist/s_docs b/dist/s_docs
index 528fc3ada6d..1669ec6a679 100755
--- a/dist/s_docs
+++ b/dist/s_docs
@@ -12,7 +12,7 @@ type doxygen > /dev/null 2>&1 || {
 	exit 0
 }
 
-. ./RELEASE
+. ../RELEASE
 
 e=0
 spellchk()
diff --git a/dist/s_readme b/dist/s_readme
index fe1daac3e6e..521dc28d68a 100644
--- a/dist/s_readme
+++ b/dist/s_readme
@@ -5,7 +5,7 @@ trap 'rm -f $t; exit 0' 0 1 2 3 13 15
 
 f=../README
 
-. ./RELEASE
+. ../RELEASE
 
 # If the version number has changed, generate a new README file (don't generate
 # a new one just because the date changed, that happens all the time).
diff --git a/dist/s_release b/dist/s_release
index e50c96393ef..e7fd4633b4e 100755
--- a/dist/s_release
+++ b/dist/s_release
@@ -3,7 +3,7 @@
 
 set -e
 
-. ./RELEASE || exit 1
+. ../RELEASE || exit 1
 
 RELEASE_DIR=`pwd`/../releases
 mkdir -p $RELEASE_DIR
diff --git a/dist/s_version b/dist/s_version
index 4493e5a04a8..49ad75318e0 100755
--- a/dist/s_version
+++ b/dist/s_version
@@ -1,7 +1,7 @@
 #!/bin/sh
 
 # Propagate version changes to the necessary files.
-. ./RELEASE
+. ../RELEASE
 
 m4dir=../build_posix/aclocal
 
diff --git a/lang/python/setup.py b/lang/python/setup.py
index 61e936218e5..fb2e036578b 100644
--- a/lang/python/setup.py
+++ b/lang/python/setup.py
@@ -23,9 +23,9 @@ if sys.platform == 'darwin':
 
 dir = os.path.dirname(__file__)
 
-# Read the version information from dist/RELEASE
-dist = os.path.join(os.path.dirname(os.path.dirname(dir)), 'dist')
-for l in open(os.path.join(dist, 'RELEASE')):
+# Read the version information from the RELEASE file
+top = os.path.dirname(os.path.dirname(dir))
+for l in open(os.path.join(top, 'RELEASE')):
     if re.match(r'WIREDTIGER_VERSION_(?:MAJOR|MINOR|PATCH)=', l):
         exec(l)