diff --git a/NEWS b/NEWS
index 8eaeb262..7768e0a8 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,18 @@
+= RubyMotion 1.21 =
+
+  * Fixed a regression in the BridgeSupport generator in Mountain Lion where
+    APIs dealing with CFTypeRef would accept or return Pointer objects instead
+    of genuine objects.
+  * Fixed a bug where C structures starting with a lower-case character could
+    potentially be registered more than once in the runtime, leading to weird
+    memory issues (ex. many cocos2d structures).
+  * Fixed a bug where certain bignums (ex. ALAssetsGroupAll) could not be
+    passed as `unsigned int' arguments.
+  * Fixed a bug in `rake static' where the static archives would not be created
+    with an object-file index, which is now mandatory in Mountain Lion.
+  * Fixed a bug in the runtime where Objective-C properties implemented using
+    message forwarding could not be called (ex. GKPlayer's alias or playerID).
+
 = RubyMotion 1.20 =
 
   * Fixed a bug in the runtime where apps compiled for iOS5 calling into APIs
diff --git a/Rakefile b/Rakefile
index f9622be5..2f96d382 100644
--- a/Rakefile
+++ b/Rakefile
@@ -1,4 +1,4 @@
-PROJECT_VERSION = '1.20'
+PROJECT_VERSION = '1.21'
 PLATFORMS_DIR = (ENV['PLATFORMS_DIR'] || '/Applications/Xcode.app/Contents/Developer/Platforms')
 
 sim_sdks = Dir.glob(File.join(PLATFORMS_DIR, 'iPhoneSimulator.platform/Developer/SDKs/iPhoneSimulator*.sdk')).map do |path|