Preparing for 1.2.
diff --git a/NEWS b/NEWS
index da81975..211bdd3 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,10 @@
+Version 1.2
+-----------
+
+- Now tzfile will round timezones to full-minutes if necessary,
+  since Python's datetime doesn't support sub-minute offsets.
+  Thanks to Ilpo Nyyssönen for reporting the issue.
+
 
 Version 1.1
 -----------
diff --git a/setup.py b/setup.py
index 17345e5..0f76991 100644
--- a/setup.py
+++ b/setup.py
@@ -13,7 +13,7 @@
 ZONEINFO = join("dateutil", "zoneinfo")
 
 setup(name="python-dateutil",
-      version = "1.1",
+      version = "1.2",
       description = "Extensions to the standard python 2.3+ datetime module",
       author = "Gustavo Niemeyer",
       author_email = "gustavo@niemeyer.net",