diff --git a/NEWS b/NEWS
index ada836bbd..6be113109 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,24 @@
+Overview of changes in GLib 2.42.1
+==================================
+
+* This release disables deprecation warnings by default
+
+* Bugs fixed:
+ 728256 gcredentials: add NetBSD support
+ 736806 gtask: Fix reference count loop causing leaks
+ 737143 Include <stdint.h> in glib/valgrind.h
+ 738170 g_byte_array_new_take() doesn't initialize array->alloc
+ 738197 g_cond_timed_wait() doesn't time out on Mac OS X 
+
+* Translation updates:
+ Bengali (India)
+ Bulgarian
+ Gujarati
+ Italian
+ Norwegian bokmål
+ Telugu
+
+
 Overview of changes in GLib 2.42.0
 ===================================
 
diff --git a/configure.ac b/configure.ac
index a0237cbd1..4a904a452 100644
--- a/configure.ac
+++ b/configure.ac
@@ -31,8 +31,8 @@ m4_define(glib_configure_ac)
 
 m4_define([glib_major_version], [2])
 m4_define([glib_minor_version], [42])
-m4_define([glib_micro_version], [0])
-m4_define([glib_interface_age], [0])
+m4_define([glib_micro_version], [1])
+m4_define([glib_interface_age], [1])
 m4_define([glib_binary_age],
           [m4_eval(100 * glib_minor_version + glib_micro_version)])
 m4_define([glib_version],