diff --git a/CMakeLists.txt b/CMakeLists.txt
index 820b2488f66c5f87b9d4d6e9c9311060868fb891..0aa42abd18cffd6a63af6ccaa90c34a5d3c1182e 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -11,7 +11,7 @@
 
 cmake_minimum_required(VERSION 3.15)
 
-project(Phys VERSION 27.4
+project(Phys VERSION 27.5
         LANGUAGES CXX C)
 
 # Enable testing with CTest/CDash
diff --git a/ReleaseNotes/v27r5.md b/ReleaseNotes/v27r5.md
new file mode 100644
index 0000000000000000000000000000000000000000..21e69e404e231e882af53b7bd52b0b44a5e7fb22
--- /dev/null
+++ b/ReleaseNotes/v27r5.md
@@ -0,0 +1,12 @@
+2023-04-05 Phys v27r5
+===
+
+This version uses Rec v25r3, Lbcom v24r3, LHCb v46r3, Gaudi v36r12, LCG 103 with ROOT 6.28.00.
+
+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 [v27r4](../-/tags/v27r4), with the following changes:
+
+### Other
+
+- Fix the random seed of RestoreCaloRecoChain, !1051 (@jzhuo)
+- Fix deprecation warnings, !1047 (@masmith)