diff --git a/docs/sphinx-docs/source/conf.py b/docs/sphinx-docs/source/conf.py
index 213dae91f0..507d45e30a 100644
--- a/docs/sphinx-docs/source/conf.py
+++ b/docs/sphinx-docs/source/conf.py
@@ -59,9 +59,9 @@
 # built documents.
 #
 # The short X.Y version.
-version = '4.0'
+version = '4.0.1'
 # The full version, including alpha/beta/rc tags.
-release = '4.0.0'
+release = '4.0.1'
 
 # The language for content autogenerated by Sphinx. Refer to documentation
 # for a list of supported languages.
diff --git a/sasview/README.txt b/sasview/README.txt
index f1fb4ee4d9..1b87e077de 100644
--- a/sasview/README.txt
+++ b/sasview/README.txt
@@ -3,6 +3,13 @@ Release Notes
 
 1- Features
 ===========
+    - New in Version 4.0.1
+      --------------------
+      This release is specifically to address the problems with P(Q)*S(Q) in
+      v4.0.0 that resulted as side-effects of the model infrastructure redesign.
+
+      The behaviour of P(Q)*S(Q) is now correct.
+
     - New in Version 4.0
       ------------------
       This release fixes the various bugs found during the alpha and beta testing
diff --git a/sasview/__init__.py b/sasview/__init__.py
index b45e216203..88a408b571 100644
--- a/sasview/__init__.py
+++ b/sasview/__init__.py
@@ -1,4 +1,4 @@
-__version__ = "4.0"
+__version__ = "4.0.1"
 __build__ = "GIT_COMMIT"
 try:
     import logging