diff --git a/CMakeLists.txt b/CMakeLists.txt
index b9f323640..bb5c428a6 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -191,9 +191,9 @@ if(NOT EXISTS ${dfhack_SOURCE_DIR}/library/xml/codegen.pl
 endif()
 
 # set up versioning.
-set(DF_VERSION "50.07")
-set(DFHACK_RELEASE "r1")
-set(DFHACK_PRERELEASE FALSE)
+set(DF_VERSION "50.08")
+set(DFHACK_RELEASE "rc1")
+set(DFHACK_PRERELEASE TRUE)
 
 set(DFHACK_VERSION "${DF_VERSION}-${DFHACK_RELEASE}")
 
diff --git a/library/xml b/library/xml
index 43a89a268..e825025d3 160000
--- a/library/xml
+++ b/library/xml
@@ -1 +1 @@
-Subproject commit 43a89a268b825fc05457678b19e551bf632dcd19
+Subproject commit e825025d399d936548c77578d4a40eb23183af0c