diff --git a/VERSION b/VERSION
index 4367f900087..c7cd5b26796 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-v1.2.3
+v1.2.4
diff --git a/release-notes/current.yaml b/release-notes/current.yaml
index c012a49f04a..29e3b8fbdb6 100644
--- a/release-notes/current.yaml
+++ b/release-notes/current.yaml
@@ -19,11 +19,6 @@ new features: |
 
 # Fixes for bugs identified in previous versions.
 bug fixes: |
-  Fixed BackendTLSPolicy didn't support using port name as the sectionName in the targetRefs
-  Fixed reference grant from EnvoyExtensionPolicy to referenced ext-proc backend not respected
-  Fixed BackendTrafficPolicy not applying to Gateway Route when Route has a Request Timeout defined
-  Fixed proxies connected to the secondary EG were not receiving xDS configuration
-  Fixed traffic splitting when some backends were invalid
 
 # Enhancements that improve performance.
 performance improvements: |
diff --git a/release-notes/v1.2.4.yaml b/release-notes/v1.2.4.yaml
new file mode 100644
index 00000000000..a188d54aec7
--- /dev/null
+++ b/release-notes/v1.2.4.yaml
@@ -0,0 +1,11 @@
+date: December 13, 2024
+
+bug fixes: |
+  Fixed BackendTLSPolicy not supporting the use of a port name as the sectionName in targetRefs.
+  Fixed reference grant from EnvoyExtensionPolicy to the referenced ext-proc backend not being respected.
+  Fixed BackendTrafficPolicy not applying to Gateway Routes when a Route has a Request Timeout defined.
+  Fixed proxies connected to the secondary Envoy Gateway not receiving xDS configuration.
+  Fixed traffic splitting not working when some backends were invalid.
+
+Other changes: |
+  Bumped Envoy to version 1.32.2.
diff --git a/site/content/en/news/releases/notes/v1.2.4.md b/site/content/en/news/releases/notes/v1.2.4.md
new file mode 100644
index 00000000000..6ec26d2c2e6
--- /dev/null
+++ b/site/content/en/news/releases/notes/v1.2.4.md
@@ -0,0 +1,16 @@
+---
+title: "v1.2.4"
+publishdate: 2024-12-13
+---
+
+Date: December 13, 2024
+
+## Bug fixes
+- Fixed BackendTLSPolicy not supporting the use of a port name as the sectionName in targetRefs.
+- Fixed reference grant from EnvoyExtensionPolicy to the referenced ext-proc backend not being respected.
+- Fixed BackendTrafficPolicy not applying to Gateway Routes when a Route has a Request Timeout defined.
+- Fixed proxies connected to the secondary Envoy Gateway not receiving xDS configuration.
+- Fixed traffic splitting not working when some backends were invalid.
+
+## Other changes
+- Bumped Envoy to version 1.32.2.