diff --git a/Config_File.class.php b/Config_File.class.php
index 6dcf5e1c..a0764f9a 100644
--- a/Config_File.class.php
+++ b/Config_File.class.php
@@ -3,7 +3,7 @@
 /**
  * Config_File class.
  *
- * @version 2.3.0
+ * @version 2.3.1
  * @author Andrei Zmievski <andrei@php.net>
  * @access public
  * 
diff --git a/NEWS b/NEWS
index b7a1e10d..396556a7 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,6 @@
+Version 2.3.1
+-------------
+
     - added optgroup support to html_options (Monte, Robert
       Amos)
     - set mtime on compile files so they match source
diff --git a/README b/README
index bc6c9253..ad015815 100644
--- a/README
+++ b/README
@@ -2,7 +2,7 @@ NAME:
 
     Smarty - the PHP compiling template engine
 
-VERSION: 2.3.0
+VERSION: 2.3.1
 
 AUTHORS:
     
diff --git a/RELEASE_NOTES b/RELEASE_NOTES
index 145f49ac..955630d2 100644
--- a/RELEASE_NOTES
+++ b/RELEASE_NOTES
@@ -1,3 +1,13 @@
+2.3.1
+-----
+
+The mtime on compiled files will now match the source files, in the case where
+the source file may not get the current timestamp, recompiling will still work
+as expected. Proper support for open_basedir has been added, so Smarty should
+work correctly in safe mode. Added a few new features such as formattext block
+function, strip variable modifier and optgroup support for html_options. Also
+other minor bug fixes, see the Change Log.
+
 2.3.0
 -----
 
diff --git a/Smarty.class.php b/Smarty.class.php
index 0bfbc0e8..ae476ee7 100644
--- a/Smarty.class.php
+++ b/Smarty.class.php
@@ -5,7 +5,7 @@
  * Author:      Monte Ohrt <monte@ispi.net>
  *              Andrei Zmievski <andrei@php.net>
  *
- * Version:     2.3.0
+ * Version:     2.3.1
  * Copyright:   2001,2002 ispi of Lincoln, Inc.
  *
  * This library is free software; you can redistribute it and/or
@@ -171,7 +171,7 @@ class Smarty
     var $_conf_obj             = null;       // configuration object
     var $_config               = array();    // loaded configuration settings
     var $_smarty_md5           = 'f8d698aea36fcbead2b9d5359ffca76f'; // md5 checksum of the string 'Smarty'
-    var $_version              = '2.3.0';    // Smarty version number
+    var $_version              = '2.3.1';    // Smarty version number
     var $_extract              = false;      // flag for custom functions
     var $_inclusion_depth      = 0;          // current template inclusion depth
     var $_compile_id           = null;       // for different compiled templates
diff --git a/Smarty_Compiler.class.php b/Smarty_Compiler.class.php
index 447ebf8e..f9c75aab 100644
--- a/Smarty_Compiler.class.php
+++ b/Smarty_Compiler.class.php
@@ -6,7 +6,7 @@
  * Author:      Monte Ohrt <monte@ispi.net>
  *              Andrei Zmievski <andrei@php.net>
  *
- * Version:     2.3.0
+ * Version:     2.3.1
  * Copyright:   2001,2002 ispi of Lincoln, Inc.
  *
  * This library is free software; you can redistribute it and/or
diff --git a/libs/Config_File.class.php b/libs/Config_File.class.php
index 6dcf5e1c..a0764f9a 100644
--- a/libs/Config_File.class.php
+++ b/libs/Config_File.class.php
@@ -3,7 +3,7 @@
 /**
  * Config_File class.
  *
- * @version 2.3.0
+ * @version 2.3.1
  * @author Andrei Zmievski <andrei@php.net>
  * @access public
  * 
diff --git a/libs/Smarty.class.php b/libs/Smarty.class.php
index 0bfbc0e8..ae476ee7 100644
--- a/libs/Smarty.class.php
+++ b/libs/Smarty.class.php
@@ -5,7 +5,7 @@
  * Author:      Monte Ohrt <monte@ispi.net>
  *              Andrei Zmievski <andrei@php.net>
  *
- * Version:     2.3.0
+ * Version:     2.3.1
  * Copyright:   2001,2002 ispi of Lincoln, Inc.
  *
  * This library is free software; you can redistribute it and/or
@@ -171,7 +171,7 @@ class Smarty
     var $_conf_obj             = null;       // configuration object
     var $_config               = array();    // loaded configuration settings
     var $_smarty_md5           = 'f8d698aea36fcbead2b9d5359ffca76f'; // md5 checksum of the string 'Smarty'
-    var $_version              = '2.3.0';    // Smarty version number
+    var $_version              = '2.3.1';    // Smarty version number
     var $_extract              = false;      // flag for custom functions
     var $_inclusion_depth      = 0;          // current template inclusion depth
     var $_compile_id           = null;       // for different compiled templates
diff --git a/libs/Smarty_Compiler.class.php b/libs/Smarty_Compiler.class.php
index 447ebf8e..f9c75aab 100644
--- a/libs/Smarty_Compiler.class.php
+++ b/libs/Smarty_Compiler.class.php
@@ -6,7 +6,7 @@
  * Author:      Monte Ohrt <monte@ispi.net>
  *              Andrei Zmievski <andrei@php.net>
  *
- * Version:     2.3.0
+ * Version:     2.3.1
  * Copyright:   2001,2002 ispi of Lincoln, Inc.
  *
  * This library is free software; you can redistribute it and/or