diff --git a/README b/README
index 4649eb79ce..769c416d32 100644
--- a/README
+++ b/README
@@ -2,8 +2,8 @@
 README
 ------
 
-Laconica 0.7.3 ("You Are The Everything")
-7 April 2009
+Laconica 0.7.4 ("Can't Get There From Here")
+29 May 2009
 
 This is the README file for Laconica, the Open Source microblogging
 platform. It includes installation instructions, descriptions of
@@ -71,29 +71,29 @@ for additional terms.
 New this version
 ================
 
-This is a minor bug-fix and feature release since version 0.7.2.1,
-released Mar 11 2009. Notable changes this version:
+This is a minor bug-fix and feature release since version 0.7.3,
+released Apr 4 2009. Notable changes this version:
 
-- A plugin to allow a templating language for customization
-- A plugin for Piwik Analytics engine
-- A bookmarklet for posting a notice about a Web page you're reading
-- A welcome notice ('welcomebot') and default subscription for new users
-- Support for SSL for some or all pages on the site
-- Better handling of empty notice lists on many pages
-- Major improvements to the Twitter friend-sync offline processing
-- subscribers, subscriptions, groups are listed on the Personal page.
-- "Invite" link restored to main menu
-- Better memory handling in FOAF output
-- Fix for SUP support (FriendFeed)
-- Correct and intelligent redirect HTTP status codes
-- Fix DB collations for search and sort
-- Better H1s and Titles using user full names
-- Fixes to make the linkback plugin operational
-- Better indication that a notice is being published by Ajax (spinner)
-- Better and unified Atom output
-- Hiding "register" and "join now" messages when site is closed
-- ping, twitter and facebook queuehandlers working better
-- Updated RPM spec
+- Improved handling of UTF-8 characters. The new code is *not* backwards
+  compatible by default; see "Upgrading" below for instructions on
+  converting existing databases to the correct character set.
+- Unroll joins for large queries. This greatly enhanced database
+  performance -- up to 50x for some queries -- at the expense of making
+  an extra DB hit for some queries.
+- Added an optional plugin to use WikiHashtags
+  (http://hashtags.wikia.com/) for the sidebar on hashtag pages.
+- Optimized Twitter friend synchronization.
+- Better error handling for Ajax posting of notices, including
+  HTTP errors and timeouts.
+- Experimental Comet plugin -- supports the cometd and the Bayeux
+  protocol. Using this plugin, you can show "real time" updates on the
+  public and tag pages. However, server configuration is complex.
+- If queues are enabled, update inboxes and memcached off-line. Speeds
+  up posting considerably.
+- Correctly shorten links posted through XMPP.
+- <link> elements for pagination, supported by some browsers like Opera.
+- Corrected date format in search API.
+- Made the public XRDS file work correctly.
 
 Prerequisites
 =============
@@ -193,9 +193,9 @@ especially if you've previously installed PHP/MySQL packages.
 1. Unpack the tarball you downloaded on your Web server. Usually a
    command like this will work:
 
-   	   tar zxf laconica-0.7.3.tar.gz
+   	   tar zxf laconica-0.7.4.tar.gz
 
-   ...which will make a laconica-0.7.3 subdirectory in your current
+   ...which will make a laconica-0.7.4 subdirectory in your current
    directory. (If you don't have shell access on your Web server, you
    may have to unpack the tarball on your local computer and FTP the
    files to the server.)
@@ -203,7 +203,7 @@ especially if you've previously installed PHP/MySQL packages.
 2. Move the tarball to a directory of your choosing in your Web root
    directory. Usually something like this will work:
 
-   	   mv laconica-0.7.3 /var/www/mublog
+   	   mv laconica-0.7.4 /var/www/mublog
 
    This will make your Laconica instance available in the mublog path of
    your server, like "http://example.net/mublog". "microblog" or
@@ -700,7 +700,7 @@ with this situation.
 If you've been using Laconica 0.6, 0.5 or lower, or if you've been
 tracking the "git" version of the software, you will probably want
 to upgrade and keep your existing data. There is no automated upgrade
-procedure in Laconica 0.7.3. Try these step-by-step instructions; read
+procedure in Laconica 0.7.4. Try these step-by-step instructions; read
 to the end first before trying them.
 
 0. Download Laconica and set up all the prerequisites as if you were
@@ -1178,7 +1178,7 @@ repository (see below), and you get a compilation error ("unexpected
 T_STRING") in the browser, check to see that you don't have any
 conflicts in your code.
 
-If you upgraded to Laconica 0.7.3 without reading the "Notice inboxes"
+If you upgraded to Laconica 0.7.4 without reading the "Notice inboxes"
 section above, and all your users' 'Personal' tabs are empty, read the
 "Notice inboxes" section above.
 
@@ -1269,6 +1269,8 @@ if anyone's been overlooked in error.
 * Ken Sedgwick
 * Brian Hendrickson
 * Tobias Diekershoff
+* Dan Moore
+* Fil
 
 Thanks also to the developers of our upstream library code and to the
 thousands of people who have tried out Identi.ca, installed Laconi.ca,
diff --git a/lib/common.php b/lib/common.php
index 8f95c23615..01d2c78eaa 100644
--- a/lib/common.php
+++ b/lib/common.php
@@ -19,7 +19,7 @@
 
 if (!defined('LACONICA')) { exit(1); }
 
-define('LACONICA_VERSION', '0.7.3');
+define('LACONICA_VERSION', '0.7.4');
 
 define('AVATAR_PROFILE_SIZE', 96);
 define('AVATAR_STREAM_SIZE', 48);