diff --git a/CHANGELOG.md b/CHANGELOG.md
index 49a369c06..914efff7d 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,8 @@
+
+# 0.24.2 - 2022-12-05
+
+* Backport [fix soundness issue with `preallocated_gen_new`](https://github.com/rust-bitcoin/rust-secp256k1/pull/548)
+
 # 0.24.1 - 2022-10-25
 
 * [Fix broken deserialization logic of `KeyPair`](https://github.com/rust-bitcoin/rust-secp256k1/issues/491) that previously always panicked. After the patch deserialization only panics if neither the `global-context` nor the `alloc` (default) feature is active.
diff --git a/Cargo.toml b/Cargo.toml
index 7cef32d43..59a8d92fc 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "secp256k1"
-version = "0.24.1"
+version = "0.24.2"
 authors = [ "Dawid Ciężarkiewicz <dpc@ucore.info>",
             "Andrew Poelstra <apoelstra@wpsoftware.net>" ]
 license = "CC0-1.0"