Document the minimum Python version required.

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diff --git a/README b/README
index 34e27c8c..a6aa607c 100644
--- a/README
+++ b/README
@@ -28,6 +28,20 @@ latest version at the SCons download page:
         http://www.scons.org/download.html
 
 
+REQUIREMENTS
+============
+
+SCons requires Python version 1.5.2 or later.  There should be no
+other dependencies or requirements to run SCons.
+
+The default SCons configuration assumes use of the Microsoft Visual C++
+compiler suite on WIN32 systems, and assumes a C compiler named 'cc'
+and a C++ compiler named 'c++' (such as found in the GNU C compiler
+suite) on any other type of system.  You may, of course, override these
+default values by appropriate configuration of Environment construction
+variables.
+
+
 INSTALLATION
 ============