diff --git a/CMakeLists.txt b/CMakeLists.txt
index 5c657dca1d5c6b3271e09498d3dddd5770ccfab8..b81aa758ca11e55fe7a36e46c2c291c4a4cfb000 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -11,7 +11,7 @@
 
 cmake_minimum_required(VERSION 3.15)
 
-project(Phys VERSION 27.1
+project(Phys VERSION 27.2
         LANGUAGES CXX C)
 
 # Enable testing with CTest/CDash
diff --git a/ReleaseNotes/v27r2.md b/ReleaseNotes/v27r2.md
new file mode 100644
index 0000000000000000000000000000000000000000..6be8063c6dacc2caa9ea5d860e520f16f14068ab
--- /dev/null
+++ b/ReleaseNotes/v27r2.md
@@ -0,0 +1,7 @@
+2022-05-20 Phys v27r2
+===
+
+This version uses Rec v25r1, Lbcom v24r1, LHCb v46r1, Gaudi v36r2 and LCG101 with ROOT 6.24.06.
+
+This version is released on `run2-patches` branch and is intended for use with Run1 or Run2 data. For Run3, use a version released on `master` branch
+Built relative to Phys [v27r1](../-/tags/v27r1), with only changes to upstream packages.