diff --git a/flaim/Makefile b/flaim/Makefile
index 721c89c..a8e1b19 100644
--- a/flaim/Makefile
+++ b/flaim/Makefile
@@ -47,6 +47,15 @@ minor_version = 9
 
 version = $(major_version).$(minor_version).$(svn_revision)
 
+# libtool versions are updated according to the following rules:
+#
+# 1. Start with a version of 0.0.0 for a library
+# 2. Update the version number immediately before a public release of the software
+# 3. If the library source code has changed at all since the last update, increment revision
+# 4. If any interfaces have been added, removed, or changed since the last update, increment current
+# 5. If any interfaces have been added since the last public release, increment age
+# 6. If any interfaces have been removed since the last public release, set age to 0
+
 so_current = 2
 so_revision = 0
 so_age = 1
diff --git a/ftk/Makefile b/ftk/Makefile
index 5274754..15362ce 100644
--- a/ftk/Makefile
+++ b/ftk/Makefile
@@ -145,12 +145,21 @@ endif
 # -- Versions --
 
 major_version = 1
-minor_version = 0
+minor_version = 1
 
 version = $(major_version).$(minor_version).$(svn_revision)
 
-so_current = 1
-so_revision = 0
+# libtool versions are updated according to the following rules:
+#
+# 1. Start with a version of 0.0.0 for a library
+# 2. Update the version number immediately before a public release of the software
+# 3. If the library source code has changed at all since the last update, increment revision
+# 4. If any interfaces have been added, removed, or changed since the last update, increment current
+# 5. If any interfaces have been added since the last public release, increment age
+# 6. If any interfaces have been removed since the last public release, set age to 0
+
+so_current = 2
+so_revision = 1
 so_age = 0
 shared_lib_version =
 
diff --git a/xflaim/Makefile b/xflaim/Makefile
index 6f11b0b..78a7a04 100644
--- a/xflaim/Makefile
+++ b/xflaim/Makefile
@@ -646,8 +646,17 @@ minor_version = 1
 
 version = $(major_version).$(minor_version).$(svn_revision)
 
+# libtool versions are updated according to the following rules:
+#
+# 1. Start with a version of 0.0.0 for a library
+# 2. Update the version number immediately before a public release of the software
+# 3. If the library source code has changed at all since the last update, increment revision
+# 4. If any interfaces have been added, removed, or changed since the last update, increment current
+# 5. If any interfaces have been added since the last public release, increment age
+# 6. If any interfaces have been removed since the last public release, set age to 0
+
 so_current = 2
-so_revision = 0
+so_revision = 1
 so_age = 0
 shared_lib_version =