diff --git a/README.patches b/README.patches
index 2cb3fde..d898d25 100644
--- a/README.patches
+++ b/README.patches
@@ -502,3 +502,4 @@ Individual patches for Vim 7.4:
   1763  7.4.478  using byte length instead of character length for 'showbreak'
   3025  7.4.479  MS-Windows: The console title can be wrong
   2962  7.4.480  (after 7.4.479) MS-Windows: Can't build
+  2035  7.4.481  (after 7.4.471) compiler warning on MS-Windows
diff --git a/vim.spec b/vim.spec
index da93a5d..ef87024 100644
--- a/vim.spec
+++ b/vim.spec
@@ -1,4 +1,4 @@
-%define patchlevel 480
+%define patchlevel 481
 %if %{?WITH_SELINUX:0}%{!?WITH_SELINUX:1}
 %define WITH_SELINUX 1
 %endif
@@ -527,6 +527,7 @@ Patch477: ftp://ftp.vim.org/pub/vim/patches/7.4/7.4.477
 Patch478: ftp://ftp.vim.org/pub/vim/patches/7.4/7.4.478
 Patch479: ftp://ftp.vim.org/pub/vim/patches/7.4/7.4.479
 Patch480: ftp://ftp.vim.org/pub/vim/patches/7.4/7.4.480
+Patch481: ftp://ftp.vim.org/pub/vim/patches/7.4/7.4.481
 
 Patch3000: vim-7.4-syntax.patch
 Patch3002: vim-7.1-nowarnings.patch
@@ -1154,6 +1155,7 @@ perl -pi -e "s,bin/nawk,bin/awk,g" runtime/tools/mve.awk
 %patch478 -p0
 %patch479 -p0
 %patch480 -p0
+%patch481 -p0
 
 # install spell files
 %if %{withvimspell}
@@ -1671,6 +1673,9 @@ rm -rf %{buildroot}
 %{_datadir}/icons/hicolor/*/apps/*
 
 %changelog
+* Fri Oct 17 2014 Karsten Hopp <karsten@redhat.com> 7.4.481-1
+- patchlevel 481
+
 * Thu Oct 16 2014 Karsten Hopp <karsten@redhat.com> 7.4.480-1
 - patchlevel 480