diff --git a/CHANGES.rst b/CHANGES.rst
index da423279032263e6fc36db64f9680549cc73a664..3fb3197ace3d24723eae9b5fc1cc2d4e878f4eac 100644
--- a/CHANGES.rst
+++ b/CHANGES.rst
@@ -1,3 +1,11 @@
+Changes in synapse v0.18.7-rc2 (2017-01-07)
+===========================================
+
+Bug fixes:
+
+* Fix error in rc1's discarding invalid inbound traffic logic that was
+  incorrectly discarding missing events
+
 Changes in synapse v0.18.7-rc1 (2017-01-06)
 ===========================================
 
diff --git a/synapse/__init__.py b/synapse/__init__.py
index 91e3a2c2e00abea7f2fa2717bc2dfaa1679a3f57..cb332279df83b6dab2ea5426e0de5ef097223077 100644
--- a/synapse/__init__.py
+++ b/synapse/__init__.py
@@ -16,4 +16,4 @@
 """ This is a reference implementation of a Matrix home server.
 """
 
-__version__ = "0.18.7-rc1"
+__version__ = "0.18.7-rc2"