diff --git a/icu4j/readme.html b/icu4j/readme.html
index a03b3ab7c5..5f55566cd5 100644
--- a/icu4j/readme.html
+++ b/icu4j/readme.html
@@ -4,7 +4,7 @@
   <meta http-equiv="Content-Type" content="text/html; charset=UTF-8">
   <meta http-equiv="Content-Style-Type" content="text/css2">
   <title>ReadMe for ICU4J</title>
-  <meta name="COPYRIGHT" content="Copyright 2000-2010, International Business Machines Corporation and others. All Rights Reserved.">
+  <meta name="COPYRIGHT" content="Copyright 2000-2011, International Business Machines Corporation and others. All Rights Reserved.">
   <style type="text/css">
 h3.doc { background: #CCCCFF }
 h4.doc { text-decoration: underline }
@@ -13,14 +13,17 @@ h4.doc { text-decoration: underline }
 <body style="background-color: rgb(255, 255, 255);" lang="EN-US"
  link="#0000ff" vlink="#800080">
 <h2>International Components for Unicode for Java (ICU4J)</h2>
-<h3>Read Me for ICU4J 4.6</h3>
+<h3>Read Me for ICU4J 4.8M1 (4.7.1)</h3>
 <hr size="2" width="100%">
 <p><b>Release Date</b><br>
-December 1, 2010<br>
+March 15, 2011<br>
 </p>
 
-<p><b>Note:</b> This is major release of ICU4J.  It contains bug fixes and adds implementations
-of inherited API and introduces new API or functionality.
+<p><b>Note:</b> This is a development milestone release of ICU4J 4.8.
+The contents of this document may not reflect the recent changes done
+for ICU 4.8 development. This milestone is inteneded for those wishing
+to get an early look at ICU 4.8 new features and API changes. It is not
+recommended for production use. 
 </p>
 <p>For the most recent release, see the <a
  href="http://www.icu-project.org/download/"> ICU4J
@@ -127,10 +130,10 @@ found in ICU4J.</p>
 <h3 class="doc"><a name="changes"></a>Changes In This Release</h3>
 <h4>New features and changes</h4>
 <p>
-See the <a href="http://sites.google.com/site/icusite/download/46">ICU 4.6 milestone download page</a> about
+See the <a href="http://sites.google.com/site/icusite/download/471">ICU 4.8M1 download page</a> about
 new features in this release.  The list of API changes since the previous ICU4J release
 is available
-<a href="http://source.icu-project.org/repos/icu/icu4j/tags/release-4-6/APIChangeReport.html">here</a>.
+<a href="http://source.icu-project.org/repos/icu/icu4j/tags/milestone-4-7-1/APIChangeReport.html">here</a>.
 </p>
 <h3 class="doc"><a name="license"></a>License Information</h3>
 <p>
@@ -159,7 +162,7 @@ package.
 </p>
 <h3 class="doc"><a name="PlatformDependencies"></a>Platform Dependencies</h3>
 <p>
-ICU4J 4.6 depends on J2SE 5.0 functionality.  Therefore, ICU4J only runs on
+ICU4J 4.8M1 depends on J2SE 5.0 functionality.  Therefore, ICU4J only runs on
 JRE version 5.0 or later.
 The table below shows the operating systems and JRE/VM versions currently
 used by the ICU development team to test ICU4J.
@@ -186,6 +189,13 @@ used by the ICU development team to test ICU4J.
 <tr>
   <th>AIX 6.1</th>
   <td align="center">-</td>
+  <td align="center" bgcolor="#DDDDFF">Regularly tested</td>
+  <td align="center">-</td>
+  <td align="center" bgcolor="#DDDDFF">Regularly tested</td>
+</tr>
+<tr>
+  <th>AIX 7.1</th>
+  <td align="center">-</td>
   <td align="center" bgcolor="#CCCCFF"><em><b>Reference platform</b></em></td>
   <td align="center">-</td>
   <td align="center" bgcolor="#DDDDFF">Regularly tested</td>
@@ -212,14 +222,21 @@ used by the ICU development team to test ICU4J.
   <td align="center">-</td>
 </tr>
 <tr>
-  <th>Redhat Enterprise Linux 5 (x86)</th>
+  <th>Mac OS X 10.6</th>
+  <td align="center" bgcolor="#DDDDFF">Regularly tested</td>
+  <td align="center">-</td>
+  <td align="center">-</td>
+  <td align="center">-</td>
+</tr>
+<tr>
+  <th>Redhat Enterprise Linux 6 (x86)</th>
   <td align="center" bgcolor="#DDDDFF">Regularly tested</td>
   <td align="center">-</td>
   <td align="center" bgcolor="#DDDDFF">Regularly tested</td>
   <td align="center">-</td>
 </tr>
 <tr>
-  <th>Redhat Enterprise Linux 5 (x86_64)</th>
+  <th>Redhat Enterprise Linux 6 (x86_64)</th>
   <td align="center">-</td>
   <td align="center" bgcolor="#DDDDFF">Regularly tested</td>
   <td align="center">-</td>
@@ -338,7 +355,7 @@ ICU4J source archive is extracted.
   <td>icu4j-core</td>
   <td>com.ibm.icu.charset</td>
   <td>Implementation of <code>java.nio.charset.spi.CharsetProvider</code>.
-  This sub-component is shipped as icu4j-charsets.jar along with
+  This sub-component is shipped as icu4j-charset.jar along with
   ICU charset converter data files.</td>
 </tr>
 <tr>
@@ -572,7 +589,7 @@ multi-lingual searching</a> </li>
 <p>
 To install ICU4J, simply place the prebuilt jar file <strong>icu4j.jar</strong>
 on your Java CLASSPATH. If you need Charset API support please also place
-<strong>icu4j-charsets.jar</strong> on your class path along with <strong>icu4j.jar</strong>.
+<strong>icu4j-charset.jar</strong> on your class path along with <strong>icu4j.jar</strong>.
 </p>
 <p>
 To build ICU4J, you will need J2SE SDK 5.0 or later (ICU4J locale SPI
@@ -709,7 +726,7 @@ For more targets run <code>ant -projecthelp</code> or see the build.xml file.</p
 <tr>
   <th>jar (default)</th>
   <td>Create ICU4J runtime library jar archives (<code>icu4j.jar</code>, 
-  <code>icu4j-charsets.jar</code> and <code>icu4j-localespi.jar</code>)
+  <code>icu4j-charset.jar</code> and <code>icu4j-localespi.jar</code>)
   in the root ICU4J directory.</td>
 </tr>
 <tr>
@@ -784,9 +801,9 @@ demo classes, so unless you build ICU4J there is little to try out.
 </p>
 <h4>Charset</h4>
 To try out the <strong>Charset</strong> package, build <strong>icu4j.jar</strong> and
-<strong>icu4j-charsets.jar</strong> using the 'jar' target.
+<strong>icu4j-charset.jar</strong> using the 'jar' target.
 You can use the charsets by placing these files on your classpath.
-<blockquote><tt>java -cp $icu4j_root/icu4j.jar:$icu4j_root/icu4j-charsets.jar &lt;your program&gt;</tt></blockquote>
+<blockquote><tt>java -cp $icu4j_root/icu4j.jar:$icu4j_root/icu4j-charset.jar &lt;your program&gt;</tt></blockquote>
 <h4>Other demos</h4>
 <p>The other demo programs are <strong>not supported</strong> and
 exist only to let you experiment with the ICU4J classes. First, build ICU4J using <tt>ant&nbsp;jarDemos</tt>.
@@ -810,54 +827,54 @@ from release to release, so clients should not depend on the exact
 organization
 of the data in ICU4J.</p>
 <ul>
-  <li>The primary <b>locale data</b> is under the directory <tt>icudt46b</tt>,
+  <li>The primary <b>locale data</b> is under the directory <tt>icudt47b</tt>,
   as a set of <tt>".res"</tt> files whose names are the locale identifiers. 
   Locale naming is documented the <code>com.ibm.icu.util.ULocale</code>
   class, and the use of these names in searching for resources is documented 
   in <code>com.ibm.icu.util.UResourceBundle</code>.</li>
 
-  <li>The <b>collation data</b> is under the directory <tt>icudt46b/coll</tt>,
+  <li>The <b>collation data</b> is under the directory <tt>icudt47b/coll</tt>,
   as a set of <tt>".res"</tt> files.</li>
 
-  <li>The <b>currency display name data</b> is under the directory <tt>icudt46b/curr</tt>,
+  <li>The <b>currency display name data</b> is under the directory <tt>icudt47b/curr</tt>,
   as a set of <tt>".res"</tt> files.</li>
 
-  <li>The <b>language display name data</b> is under the directory <tt>icudt46b/lang</tt>,
+  <li>The <b>language display name data</b> is under the directory <tt>icudt47b/lang</tt>,
   as a set of <tt>".res"</tt> files.</li>
 
-  <li>The <b>region display name data</b> is under the directory <tt>icudt46b/region</tt>,
+  <li>The <b>region display name data</b> is under the directory <tt>icudt47b/region</tt>,
   as a set of <tt>".res"</tt> files.</li>
 
   <li>The <b>rule-based transliterator data</b> is under the directory
-  <tt>icudt46b/translit</tt>, as a set of <tt>".res"</tt> files.</li>
+  <tt>icudt47b/translit</tt>, as a set of <tt>".res"</tt> files.</li>
 
   <li>The <b>rule-based number format data</b> is under the directory
-  <tt>icudt46b/rbnf</tt>, as a set of <tt>".res"</tt> files.
+  <tt>icudt47b/rbnf</tt>, as a set of <tt>".res"</tt> files.
 
   <li>The <b>break iterator data</b> is directly under the
-  directory <tt>icudt46b</tt>, as a set of <tt>".brk"</tt> files, named according to the
+  directory <tt>icudt47b</tt>, as a set of <tt>".brk"</tt> files, named according to the
   type of break and the locale where there are locale-specific versions.</li>
 
-  <li>The <b>holiday data</b> is under the directory <tt>icudt46b</tt>,
+  <li>The <b>holiday data</b> is under the directory <tt>icudt47b</tt>,
   as a set of <tt>".class"</tt> files, named <tt>"HolidayBundle_"</tt>
   followed by the locale ID.</li>
 
   <li>The <b>character property data</b> and default <b>unicode collation algorithm
-  (UCA) data</b> is found under the directory <tt>icudt46b</tt>, as a set of
+  (UCA) data</b> is found under the directory <tt>icudt47b</tt>, as a set of
   <tt>".icu"</tt> files. </li>
 
-  <li>The <b>normalization data</b> is found under the directory <tt>icudt46b</tt>,
+  <li>The <b>normalization data</b> is found under the directory <tt>icudt47b</tt>,
   as a set of <tt>".nrm"</tt> files. </li>
 
   <li>The <b>character set converter data</b> is under the directory
-  <tt>icudt46b</tt>, as a set of <tt>".cnv"</tt> files.  These files are
+  <tt>icudt47b</tt>, as a set of <tt>".cnv"</tt> files.  These files are
   currently included only in icu-charset.jar.</li>
 
   <li>The <b>time zone rule data</b> is under the directory 
-  <tt>icudt46b</tt>, as <tt>zoneinfo64.res</tt>.</li>
+  <tt>icudt47b</tt>, as <tt>zoneinfo64.res</tt>.</li>
 
   <li>The <b>time zone display name data</b> is under the directory
-  <tt>icudt46b/zone</tt>, as a set of <tt>".res"</tt> files.</li>
+  <tt>icudt47b/zone</tt>, as a set of <tt>".res"</tt> files.</li>
 </ul>
 <p>
 Some of the data files alias or otherwise reference data from other
@@ -952,9 +969,9 @@ ICU4J data is built by ICU4C tools. Please see "icu4j-readme.txt" in <I>$icu4c_r
 <h5> Generating Data from CLDR </h5>
 <I> Note: This procedure assumes that all 3 sources are present</I>
 <ol>
-    <li>Checkout or download CLDR version 1.9</li>
-    <li>Checkout ICU4C with tag 'release-4-6'</li>
-    <li>Checkout ICU4J with tag 'release-4-6'</li>
+    <li>Checkout or download CLDR version icu471milestone</li>
+    <li>Checkout ICU4C with tag 'milestone-4-7-1'</li>
+    <li>Checkout ICU4J with tag 'milestone-4-7-1'</li>
     <li>cd to <I>$icu4c_root</I>/source/data directory</li>
     <li>Follow the instructions in <I>$icu4c_root</I>/source/data/cldr-icu-readme.txt</li>
     <li>Rebuild ICU4C with the newly generated data.</li>
@@ -966,7 +983,7 @@ ICU4J data is built by ICU4C tools. Please see "icu4j-readme.txt" in <I>$icu4c_r
 </ol>
 
 <h3 class="doc"><a name="timezone"></a>About ICU4J Time Zone</h3>
-<p>ICU4J 4.6 includes time zone data version 2010o, which is the latest one as of
+<p>ICU4J 4.8M1 includes time zone data version 2011d, which is the latest one as of
 the release date.  However, time zone data is frequently updated in response
 to changes made by local governments around the world.  If you need to update
 the time zone data, please refer the ICU user guide topic
@@ -1004,7 +1021,7 @@ review all comments.</p>
 <h2>Thank you for your interest in ICU4J!</h2>
 <br>
 <hr align="center" size="2" width="100%">
-<p><I><font size="-1">Copyright &copy; 2002-2010 International Business
+<p><I><font size="-1">Copyright &copy; 2002-2011 International Business
 Machines Corporation and others. All Rights
 Reserved.<br>
 4400 North First Street, San Jos&eacute;, CA 95193, USA
