diff --git a/README.rst b/README.rst
index 7cf790f1e..8271d774b 100644
--- a/README.rst
+++ b/README.rst
@@ -1,28 +1,34 @@
+
+**Warning: This repository is currently in a state of flux as the placement
+service is extracted from nova. While that is happening this repository is
+not yet fully working.**
+
+If you are viewing this README on GitHub, please be aware that placement
+development happens on `OpenStack git
+<https://git.openstack.org/cgit/openstack/placement/>`_ and `OpenStack
+gerrit <https://review.openstack.org>`_.
+
 ========================
 Team and repository tags
 ========================
 
-.. image:: https://governance.openstack.org/tc/badges/nova.svg
+.. image:: https://governance.openstack.org/tc/badges/placement.svg
     :target: https://governance.openstack.org/tc/reference/tags/index.html
 
-.. Change things from this point on
+OpenStack Placement
+===================
 
-OpenStack Nova
-==============
-
-OpenStack Nova provides a cloud computing fabric controller, supporting a wide
-variety of compute technologies, including: libvirt (KVM, Xen, LXC and more),
-Hyper-V, VMware, XenServer, OpenStack Ironic and PowerVM.
-
-Use the following resources to learn more.
+OpenStack Placement provides an HTTP service for managing, selecting,
+and claiming providers of classes of inventory representing available
+resources in a cloud.
 
 API
 ---
 
-To learn how to use Nova's API, consult the documentation available online at:
+To learn how to use Placement's API, consult the documentation available
+online at:
 
-- `Compute API Guide <https://developer.openstack.org/api-guide/compute/>`__
-- `Compute API Reference <https://developer.openstack.org/api-ref/compute/>`__
+- `Placement API Reference <https://developer.openstack.org/api-ref/placement/>`__
 
 For more information on OpenStack APIs, SDKs and CLIs in general, refer to:
 
@@ -33,10 +39,10 @@ For more information on OpenStack APIs, SDKs and CLIs in general, refer to:
 Operators
 ---------
 
-To learn how to deploy and configure OpenStack Nova, consult the documentation
-available online at:
+To learn how to deploy and configure OpenStack Placement, consult the
+documentation available online at:
 
-- `OpenStack Nova <https://docs.openstack.org/nova/>`__
+- `OpenStack Placement <https://docs.openstack.org/placement/>`__
 
 In the unfortunate event that bugs are discovered, they should be reported to
 the appropriate bug tracker. If you obtained the software from a 3rd party
@@ -46,29 +52,18 @@ available at:
 
 - `Bug Tracker <https://bugs.launchpad.net/nova>`__
 
+**For the time being bugs in placement should be created in the Nova bug
+tracker with a tag of ``placement``.**
+
 Developers
 ----------
 
-For information on how to contribute to Nova, please see the contents of the
+For information on how to contribute to Placement, please see the contents of
 CONTRIBUTING.rst.
 
 Any new code must follow the development guidelines detailed in the HACKING.rst
-file, and pass all unit tests.
+file, and pass all tests.
 
 Further developer focused documentation is available at:
 
-- `Official Nova Documentation <https://docs.openstack.org/nova/>`__
-- `Official Client Documentation
-  <https://docs.openstack.org/python-novaclient/>`__
-
-Other Information
------------------
-
-During each `Summit`_ and `Project Team Gathering`_, we agree on what the whole
-community wants to focus on for the upcoming release. The plans for nova can
-be found at:
-
-- `Nova Specs <http://specs.openstack.org/openstack/nova-specs/>`__
-
-.. _Summit: https://www.openstack.org/summit/
-.. _Project Team Gathering: https://www.openstack.org/ptg/
+- `Official Placement Documentation <https://docs.openstack.org/placement/>`__