diff --git a/ANNOUNCE b/ANNOUNCE
index d1db8fba4..a7003189a 100644
--- a/ANNOUNCE
+++ b/ANNOUNCE
@@ -1,5 +1,5 @@
 
-Libpng 1.5.4beta08 - June 23, 2011
+Libpng 1.5.4rc01 - June 27, 2011
 
 This is not intended to be a public release.  It will be replaced
 within a few weeks by a public version or by another test version.
@@ -9,20 +9,20 @@ Files available for download:
 Source files with LF line endings (for Unix/Linux) and with a
 "configure" script
 
-   1.5.4beta08.tar.xz (LZMA-compressed, recommended)
-   1.5.4beta08.tar.gz
-   1.5.4beta08.tar.bz2
+   1.5.4rc01.tar.xz (LZMA-compressed, recommended)
+   1.5.4rc01.tar.gz
+   1.5.4rc01.tar.bz2
 
 Source files with CRLF line endings (for Windows), without the
 "configure" script
 
-   lp154b08.7z  (LZMA-compressed, recommended)
-   lp154b08.zip
+   lp154r01.7z  (LZMA-compressed, recommended)
+   lp154r01.zip
 
 Other information:
 
-   1.5.4beta08-README.txt
-   1.5.4beta08-LICENSE.txt
+   1.5.4rc01-README.txt
+   1.5.4rc01-LICENSE.txt
 
 Changes since the last public release (1.5.2):
 
@@ -240,6 +240,9 @@ Version 1.5.4beta08 [June 23, 2011]
   Fixed pngvalid if ACCURATE_SCALE is defined.
   Updated scripts/pnglibconf.h.prebuilt.
 
+Version 1.5.4rc01 [June 27, 2011]
+  Define PNG_ALLOCATED to "restrict" only if MSC_VER >= 1400.
+
 Send comments/corrections/commendations to png-mng-implement at lists.sf.net:
 (subscription required; visit
 https://lists.sourceforge.net/lists/listinfo/png-mng-implement
diff --git a/CHANGES b/CHANGES
index 3b9576949..891773910 100644
--- a/CHANGES
+++ b/CHANGES
@@ -3503,6 +3503,9 @@ Version 1.5.4beta08 [June 23, 2011]
   Fixed pngvalid if ACCURATE_SCALE is defined.
   Updated scripts/pnglibconf.h.prebuilt.
 
+Version 1.5.4rc01 [June 27, 2011]
+  Define PNG_ALLOCATED to "restrict" only if MSC_VER >= 1400.
+
 Send comments/corrections/commendations to png-mng-implement at lists.sf.net
 (subscription required; visit
 https://lists.sourceforge.net/lists/listinfo/png-mng-implement
diff --git a/pngconf.h b/pngconf.h
index 5ab43fd2b..e587a47e9 100644
--- a/pngconf.h
+++ b/pngconf.h
@@ -1,7 +1,7 @@
 
 /* pngconf.h - machine configurable file for libpng
  *
- * libpng version 1.5.4beta08 - June 23, 2011
+ * libpng version 1.5.4rc01 - June 27, 2011
  *
  * Copyright (c) 1998-2011 Glenn Randers-Pehrson
  * (Version 0.96 Copyright (c) 1996, 1997 Andreas Dilger)
@@ -385,7 +385,9 @@
 #      define PNG_NORETURN   __declspec(noreturn)
 #    endif
 #    ifndef PNG_ALLOCATED
-#      define PNG_ALLOCATED __declspec(restrict)
+#      if (_MSC_VER >= 1400)
+#        define PNG_ALLOCATED __declspec(restrict)
+#      endif
 #    endif
 
     /* This specifically protects structure members that should only be