diff --git a/eng/Update-PkgVersion.ps1 b/eng/Update-PkgVersion.ps1
new file mode 100644
index 000000000..188b92867
--- /dev/null
+++ b/eng/Update-PkgVersion.ps1
@@ -0,0 +1,142 @@
+<#
+.SYNOPSIS
+Bumps up package versions after release
+
+.DESCRIPTION
+This script bumps up package versions following conventions defined at https://github.com/Azure/azure-sdk/blob/master/docs/policies/releases.md#incrementing-after-release-cpp
+
+.PARAMETER RepoRoot
+The Root of the repo
+
+.PARAMETER ServiceDirectory
+The Name of the Service Directory
+
+.PARAMETER PackageName
+The Name of the Package
+
+.PARAMETER PackageDirName
+Used in the case where the package directory name is different from the package name. e.g in cognitiveservice packages
+
+.PARAMETER NewVersionString
+Use this to overide version incement logic and set a version specified by this parameter
+
+
+.EXAMPLE
+Updating package version for Azure.Core
+Update-PkgVersion.ps1 -ServiceDirectory core -PackageName Azure.Core
+
+Updating package version for Azure.Core with a specified verion
+Update-PkgVersion.ps1 -ServiceDirectory core -PackageName Azure.Core -NewVersionString 2.0.5
+
+Updating package version for Microsoft.Azure.CognitiveServices.AnomalyDetector
+Update-PkgVersion.ps1 -ServiceDirectory cognitiveservices -PackageName Microsoft.Azure.CognitiveServices.AnomalyDetector -PackageDirName AnomalyDetector
+
+#>
+
+[CmdletBinding()]
+Param (
+    [ValidateNotNullOrEmpty()]
+    [string] $RepoRoot = "${PSScriptRoot}/..",
+    [Parameter(Mandatory=$True)]
+    [string] $ServiceDirectory,
+    [Parameter(Mandatory=$True)]
+    [string] $PackageName,
+    [string] $PackageDirName,
+    [string] $NewVersionString
+)
+# Regular expression as specified in https://semver.org/#is-there-a-suggested-regular-expression-regex-to-check-a-semver-string
+$VERSION_REGEX = "^(0|[1-9]\d*)\.(0|[1-9]\d*)\.(0|[1-9]\d*)(?:-((?:0|[1-9]\d*|\d*[a-zA-Z-][0-9a-zA-Z-]*)(?:\.(?:0|[1-9]\d*|\d*[a-zA-Z-][0-9a-zA-Z-]*))*))?(?:\+([0-9a-zA-Z-]+(?:\.[0-9a-zA-Z-]+)*))?$"
+
+# Updated Version in csproj and changelog using computed or set NewVersionString
+function Update-Version($Unreleased=$True, $ReplaceVersion=$False)
+{
+    Write-Verbose "New Version: ${NewPackageVersion}"
+    Set-Content -Path $PackageVersionPath -Value ${NewPackageVersion}
+
+    # Increment Version in ChangeLog file
+    & "${PSScriptRoot}/common/Update-Change-Log.ps1" -Version $NewPackageVersion -ChangeLogPath $ChangelogPath -Unreleased $Unreleased -ReplaceVersion $ReplaceVersion
+}
+
+# Parse a VersionString to verify that it is right
+function Parse-Version($VersionString)
+{
+    if ([System.String]::IsNullOrEmpty($VersionString))
+    {
+        Write-Error "Missing or Empty Version property ${VersionString}"
+        exit 1
+    }
+
+    if ($VersionString -Match $VERSION_REGEX)
+    {
+        if($Matches[4] -eq $null){$Pre = @()}
+        else{$Pre = $Matches[4].Split(".")}
+        $VersionTable = @{
+            major = [int]$Matches[1]
+            minor = [int]$Matches[2]
+            patch = [int]$Matches[3]
+            pretag = [string]$Pre[0]
+            prever = [int]$Pre[1]
+        }
+
+        if ($VersionTable['pretag'] -ne '' -and $VersionTable['pretag'] -ne 'preview')
+        {
+            Write-Error "Unexpected pre-release identifier '$($VersionTable['pretag'])', should be 'preview'"
+            exit 1
+        }
+
+        if ($VersionTable['pretag'] -eq 'preview' -and $VersionTable['prever'] -lt 1)
+        {
+            Write-Error "Unexpected pre-release version '$($VersionTable['prever'])', should be greater than '1'"
+            exit 1
+        }
+        return $VersionTable
+    }
+    else
+    {
+        Write-Error "Version property contains incorrect format. It should be in format 'X.Y.Z[-preview.N]'"
+        exit 1
+    }
+}
+
+# Obtain Current Package Version
+
+if ([System.String]::IsNullOrEmpty($PackageDirName)) {$PackageDirName = $PackageName}
+$PackageVersionPath = Join-Path $RepoRoot "sdk" $ServiceDirectory $PackageDirName "version.txt"
+$ChangelogPath = Join-Path $RepoRoot "sdk" $ServiceDirectory $PackageDirName "CHANGELOG.md"
+$PackageVersion = Get-Content -Path $PackageVersionPath
+
+
+if ([System.String]::IsNullOrEmpty($NewVersionString))
+{
+    $VersionTable = Parse-Version($PackageVersion)
+    Write-Verbose "Current Version: ${PackageVersion}"
+    # Increment Version
+    if ([System.String]::IsNullOrEmpty($VersionTable['pretag']))
+    {
+        $VersionTable['pretag'] = 'preview'
+        $VersionTable['prever'] = 1
+        $VersionTable['minor']++
+        $VersionTable['patch'] = 0
+    }
+    else
+    {
+        $VersionTable['prever']++
+    }
+
+    $NewPackageVersion = "{0}.{1}.{2}-{3}.{4}" -F $VersionTable['major'], $VersionTable['minor'], $VersionTable['patch'], $VersionTable['pretag'], $VersionTable['prever']
+    Update-Version
+}
+else
+{
+    # Use specified VersionString
+    $VersionTable = Parse-Version($NewVersionString)
+    if ($VersionTable['pretag'] -eq '')
+    {
+        $NewPackageVersion = "{0}.{1}.{2}" -F $VersionTable['major'], $VersionTable['minor'], $VersionTable['patch']
+    }
+    else
+    {
+        $NewPackageVersion = "{0}.{1}.{2}-{3}.{4}" -F $VersionTable['major'], $VersionTable['minor'], $VersionTable['patch'], $VersionTable['pretag'], $VersionTable['prever']
+    }
+    Update-Version -Unreleased $False -ReplaceVersion $True
+}
diff --git a/eng/pipelines/templates/stages/archetype-cpp-release.yml b/eng/pipelines/templates/stages/archetype-cpp-release.yml
index 6ce1fdfe3..77ba5b458 100644
--- a/eng/pipelines/templates/stages/archetype-cpp-release.yml
+++ b/eng/pipelines/templates/stages/archetype-cpp-release.yml
@@ -65,3 +65,28 @@ stages:
                           TargetLanguage: 'cpp'
                           # we override the regular script path because we have cloned the build tools repo as a separate artifact.
                           ScriptPath: '$(Pipeline.Workspace)/azure-sdk-build-tools/scripts/copy-docs-to-blobstorage.ps1'
+
+          - ${{if ne(artifact.options.skipUpdatePackageVersion, 'true')}}:
+            - deployment: UpdatePackageVersion
+              displayName: "Update Package Version"
+              condition: and(succeeded(), ne(variables['Skip.UpdatePackageVersion'], 'true'))
+              environment: github
+
+              pool:
+                vmImage: windows-2019
+
+              strategy:
+                runOnce:
+                  deploy:
+                    steps:
+                      - checkout: self
+                      - pwsh: |
+                          eng/Update-PkgVersion.ps1 -ServiceDirectory '${{parameters.ServiceDirectory}}' -PackageName '${{artifact.name}}'
+                        displayName: Increment package version
+                      - template: tools/clone-buildtools/clone-buildtools.yml@azure-sdk-build-tools
+                      - template: pipelines/steps/create-pull-request.yml@azure-sdk-build-tools
+                        parameters:
+                          RepoName: azure-sdk-for-cpp
+                          PRBranchName: increment-package-version-${{ parameters.ServiceDirectory }}-$(Build.BuildId)
+                          CommitMsg: "Increment package version after release of ${{ artifact.name }}"
+                          PRTitle: "Increment version for ${{ parameters.ServiceDirectory }} releases"
\ No newline at end of file
diff --git a/sdk/core/azure-core/CHANGELOG.md b/sdk/core/azure-core/CHANGELOG.md
new file mode 100644
index 000000000..2fea025bc
--- /dev/null
+++ b/sdk/core/azure-core/CHANGELOG.md
@@ -0,0 +1,5 @@
+# Release History
+
+## 1.0.0-preview.1 (Unreleased)
+
+* Testing. Validating automation.
diff --git a/sdk/core/azure-core/version.txt b/sdk/core/azure-core/version.txt
index 1b2282f7d..5fd76192a 100644
--- a/sdk/core/azure-core/version.txt
+++ b/sdk/core/azure-core/version.txt
@@ -1 +1 @@
-1.0.0-dev.1
\ No newline at end of file
+1.0.0-preview.1