diff --git a/NEWS b/NEWS
index ce6d619d80598f0fb45f230fb4a9aa5b6a8d0188..f11cfe9f0b36d9c4f0ee1034fd1ce3baccd943de 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,19 @@
+Version 1.2.1
+  - experimental HWM support, read the install document, section
+    "Initializing the cluster"
+  - allow for the PVM hypervisor per-instance kernel and initrd paths
+  - add a new command β€˜gnt-cluster verify-disks’ which uses a new
+    algorithm to improve the reconnection of the DRBD pairs if the
+    device on the secondary node has gone away
+  - make logical volume code auto-activate LVs at disk activation time
+  - slightly improve the speed of activating disks
+  - allow specification of the MAC address at instance creation time,
+    and changing it later via β€˜gnt-instance modify’
+  - fix handling of external commands that generate lots of output on
+    stderr
+  - update documentation with regard to minimum version of DRBD8
+    supported
+
 Version 1.2.0
   - Log the β€˜xm create’ output to the node daemon log on failure (to
     help diagnosing the error)
diff --git a/configure.ac b/configure.ac
index 5096022b8092f56d56442cc606e6383e55c821f6..857bb2cbb67a6bd2379b1eb4ea02b33e8acdffc6 100644
--- a/configure.ac
+++ b/configure.ac
@@ -1,6 +1,6 @@
 # Configure script for Ganeti
 AC_PREREQ(2.59)
-AC_INIT(ganeti, 1.2.0, ganeti@googlegroups.com)
+AC_INIT(ganeti, 1.2.1, ganeti@googlegroups.com)
 AC_CONFIG_AUX_DIR(autotools)
 AC_CONFIG_SRCDIR(configure)
 AM_INIT_AUTOMAKE([foreign tar-ustar])
diff --git a/doc/install.sgml b/doc/install.sgml
index e27a39394bd6862e2cf68db1506111c26bb7441d..2bae4e3f13c58279642ad69f528cb96e56eea7d4 100644
--- a/doc/install.sgml
+++ b/doc/install.sgml
@@ -623,8 +623,8 @@ vgextend xenvg /dev/sdd1
       </para>
 
         <screen>
-tar xvzf ganeti-1.2.0.tar.gz
-cd ganeti-1.2.0
+tar xvzf ganeti-1.2.1.tar.gz
+cd ganeti-1.2.1
 ./configure --localstatedir=/var --sysconfdir=/etc
 make
 make install
@@ -670,8 +670,8 @@ mkdir /srv/ganeti/ /srv/ganeti/os /srv/ganeti/export
 
       <screen>
 cd /srv/ganeti/os
-tar xvf ganeti-instance-debian-etch-0.3.tar
-mv ganeti-instance-debian-etch-0.3 debian-etch
+tar xvf ganeti-instance-debian-etch-0.4.tar
+mv ganeti-instance-debian-etch-0.4 debian-etch
       </screen>
 
       <para>