REL: release 1.4.0rc1.

diff --git a/setup.py b/setup.py
index bda5998..31cf1d4 100755
--- a/setup.py
+++ b/setup.py

@@ -51,8 +51,8 @@
 MAJOR               = 1
 MINOR               = 4
 MICRO               = 0
-ISRELEASED          = False
-VERSION             = '%d.%d.%d' % (MAJOR, MINOR, MICRO)
+ISRELEASED          = True
+VERSION             = '%d.%d.%drc1' % (MAJOR, MINOR, MICRO)
 
 # Return the svn version as a string, raise a ValueError otherwise
 def svn_version():