diff --git a/icu4c/readme.html b/icu4c/readme.html
index 7a7cac64eaa..af9fc459713 100644
--- a/icu4c/readme.html
+++ b/icu4c/readme.html
@@ -3,7 +3,7 @@
 
 <html lang="en-US" xmlns="http://www.w3.org/1999/xhtml" xml:lang="en-US">
   <head>
-    <title>ReadMe for ICU 54.1 (m1)</title>
+    <title>ReadMe for ICU 54.1 (rc)</title>
     <meta name="COPYRIGHT" content=
     "Copyright (c) 1997-2014 IBM Corporation and others. All Rights Reserved." />
     <meta name="KEYWORDS" content=
@@ -23,7 +23,7 @@
         milestone - if the release note is a milestone release
 -->
 
-  <body class="milestone">
+  <body class="rc">
     <p class="only-draft"><b>Note:</b> This is a draft readme.</p>
 
     <h1>
@@ -32,7 +32,7 @@
 
         <span class="only-rc">Release Candidate</span>
         <span class="only-milestone">(Milestone Release)</span>
-         <abbr title="International Components for Unicode">ICU</abbr> 54.1 (m1) ReadMe
+         <abbr title="International Components for Unicode">ICU</abbr> 54.1 (rc) ReadMe
      </h1>
 
     
@@ -45,7 +45,7 @@
     <p class="note only-rc">This is a release candidate version of ICU4C.
      It is not recommended for production use.</p>
 
-    <p>Last updated: 2014-July-01<br />
+    <p>Last updated: 2014-September-16<br />
      Copyright &copy; 1997-2014 International Business Machines Corporation and
     others. All Rights Reserved.</p>
     <!-- Remember that there is a copyright at the end too -->
@@ -258,12 +258,23 @@
     Use ucol_open() with language tag collation keywords instead (see <a href="http://userguide.icu-project.org/collation/api">Collation API Details</a>). For example, <code>ucol_open("de-u-co-phonebk-ka-shifted", &amp;errorCode)</code>
      for German Phonebook order with "ignore punctuation" mode.</p>
 
+    <h3>Deprecation: UCOL_TAILORINGS_VERSION</h3>
+    <p>This was originally intended to be the version of collation tailorings,
+    but that information is actually in the tailorings data and this
+    constant has always been (and now will continue to be) 1.</p>
+
+    <h3>Deprecation (in ICU 53): TimeUnitFormat</h3>
+    <p>The TimeUnitFormat and its methods were actually deprecated in ICU 53 and the
+    class as a whole was tagged as deprecated in that release, but the status tags for
+    the individual methods did not correctly indicate the deprecated status; now they do.
+    Use the MeasureFormat class and its methods instead.</p>
+
     <!-- standing item -->
     <h3>Full release notes and the latest updates</h3>
     <p>The previous list concentrates on <em>changes that affect existing
     applications migrating from previous ICU releases</em>.
     For more news about this release, as well as late-breaking news, see the
-    <a href="http://site.icu-project.org/download/54m1">ICU download page</a>.</p>
+    <a href="http://site.icu-project.org/download/54">ICU download page</a>.</p>
 
     <!-- end ICU 54 items -->
 
@@ -682,7 +693,7 @@
 ~/icu$ mkdir trunk-dev
 ~/icu$ cd trunk-dev
 ~/icu/trunk-dev$ ../trunk/source/runConfigureICU Linux
-~/icu/trunk-dev$ make check</pre><br>
+~/icu/trunk-dev$ make check</pre><br/>
         (Note: this example shows a relative path to
          <code>runConfigureICU</code>. If you experience difficulty,
          try using an absolute path to <code>runConfigureICU</code>
@@ -700,7 +711,7 @@
         to the .dat package file can be hardcoded. ICU will automatically set
         the path to the final install location using U_ICU_DATA_DEFAULT_DIR.
         Alternatively, you can set <code>-DICU_DATA_DIR=/path/to/icu/data</code>
-        when building the ICU code. (Used by source/common/putil.c.)<br />
+        when building the ICU code. (Used by source/common/putil.c.)<br/>
         Consider also setting <code>-DICU_NO_USER_DATA_OVERRIDE</code>
         if you do not want the "ICU_DATA" environment variable to be used.
         (An application can still override the data path via
