diff --git a/CMakeLists.txt b/CMakeLists.txt
index ae513753..7320b7eb 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -4,7 +4,7 @@ else()
 cmake_minimum_required(VERSION 3.5 FATAL_ERROR)
 endif()
 project(oqs-provider LANGUAGES C)
-set(OQSPROVIDER_VERSION_TEXT "0.7.0")
+set(OQSPROVIDER_VERSION_TEXT "0.7.0-rc1")
 set(CMAKE_C_STANDARD 11)
 set_property(GLOBAL PROPERTY FIND_LIBRARY_USE_LIB64_PATHS ON)
 if(CMAKE_BUILD_TYPE STREQUAL "Debug")
diff --git a/RELEASE.md b/RELEASE.md
index 130ff5fe..1bd8888a 100644
--- a/RELEASE.md
+++ b/RELEASE.md
@@ -1,4 +1,4 @@
-# oqs-provider 0.7.1 release candidate 1
+# oqs-provider 0.7.0 release candidate 1
 
 ## About
 
@@ -16,6 +16,10 @@ Further details on building, testing and use can be found in [README.md](https:/
 
 This is release candidate 1 of version 0.7.0 of oqs-provider which continues from the earlier 0.6.1 release. This release is fully tested to be used in conjunction with the main branch of [liboqs](https://github.com/open-quantum-safe/liboqs) and is guaranteed to be in sync with v0.11.0 of `liboqs`.
 
+### Errata
+
+This release candidate was updated on October 10, 2024 after being first published on October 07, 2024. Prior to being updated the release notes heading incorrectly reported the release candidate version number to be 0.7.1 release candidate 1; this error was limited to oqs-provider 0.7.0 release candidate 1 release notes and did not affect any oqs-provider functionality.
+
 ### Security considerations
 
 None.