diff --git a/CHANGES.rst b/CHANGES.rst
index 4e536bc4d..edf32db75 100644
--- a/CHANGES.rst
+++ b/CHANGES.rst
@@ -1,3 +1,12 @@
+Changes in synapse 0.3.1 (2014-09-18)
+=====================================
+This is a release to hotfix v0.3.0 to fix two regressions.
+
+Webclient:
+ * Fix a regression where we sometimes displayed duplicate events.
+ * Fix a regression where we didn't immediately remove rooms you were
+   banned in from the recents list.
+
 Changes in synapse 0.3.0 (2014-09-18)
 =====================================
 See UPGRADE for information about changes to the client server API, including
diff --git a/VERSION b/VERSION
index 0d91a54c7..9e11b32fc 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-0.3.0
+0.3.1
diff --git a/synapse/__init__.py b/synapse/__init__.py
index 8ef176ea6..1b49cbb38 100644
--- a/synapse/__init__.py
+++ b/synapse/__init__.py
@@ -16,4 +16,4 @@
 """ This is a reference implementation of a synapse home server.
 """
 
-__version__ = "0.3.0"
+__version__ = "0.3.1"