diff --git a/CHANGELOG.md b/CHANGELOG.md
index e8e322e2..3c61ad3f 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,8 @@
+## Version 3.2.5.0
+
+* `gracefulClose` based on STM racing and `timeout`.
+  [#587](https://github.com/haskell/network/issues/587)
+
 ## Version 3.2.4.0
 
 * New API: setSockOptValue.
diff --git a/configure.ac b/configure.ac
index d12be453..d2deb393 100644
--- a/configure.ac
+++ b/configure.ac
@@ -1,5 +1,5 @@
 AC_INIT([Haskell network package],
-        [3.2.4.0],
+        [3.2.5.0],
         [libraries@haskell.org],
         [network])
 
diff --git a/network.cabal b/network.cabal
index 6908e35a..163f1c11 100644
--- a/network.cabal
+++ b/network.cabal
@@ -1,6 +1,6 @@
 cabal-version:      1.18
 name:               network
-version:            3.2.4.0
+version:            3.2.5.0
 license:            BSD3
 license-file:       LICENSE
 maintainer:         Kazu Yamamoto, Tamar Christina