diff --git a/docs/source/release-notes/3.7.5.rst b/docs/source/release-notes/3.7.5.rst
new file mode 100644
index 0000000..e6bf37a
--- /dev/null
+++ b/docs/source/release-notes/3.7.5.rst
@@ -0,0 +1,23 @@
+3.7.5 -- 2019-02-04
+-------------------
+
+You can view the `3.7.5 milestone`_ on GitLab for more details.
+
+Bugs Fixed
+~~~~~~~~~~
+
+- Fix reporting of pyflakes "referenced before assignment" error (See also
+  `GitLab!301`_, `GitLab#503`_)
+
+
+.. all links
+.. _3.7.5 milestone:
+    https://gitlab.com/pycqa/flake8/milestones/28
+
+.. issue links
+.. _GitLab#503:
+    https://gitlab.com/pycqa/flake8/issues/503
+
+.. merge request links
+.. _GitLab!301:
+    https://gitlab.com/pycqa/flake8/merge_requests/301
diff --git a/docs/source/release-notes/index.rst b/docs/source/release-notes/index.rst
index 73793c3..e7e9c3e 100644
--- a/docs/source/release-notes/index.rst
+++ b/docs/source/release-notes/index.rst
@@ -9,6 +9,7 @@ with the newest releases first.
 ==================
 
 .. toctree::
+    3.7.5
     3.7.4
     3.7.3
     3.7.2
diff --git a/src/flake8/__init__.py b/src/flake8/__init__.py
index 3620525..b6b42ca 100644
--- a/src/flake8/__init__.py
+++ b/src/flake8/__init__.py
@@ -15,7 +15,7 @@ import sys
 LOG = logging.getLogger(__name__)
 LOG.addHandler(logging.NullHandler())
 
-__version__ = "3.7.4"
+__version__ = "3.7.5"
 __version_info__ = tuple(
     int(i) for i in __version__.split(".") if i.isdigit()
 )