diff --git a/NEWS.rst b/NEWS.rst
index 069e48ed..a0c10c98 100644
--- a/NEWS.rst
+++ b/NEWS.rst
@@ -1,3 +1,8 @@
+3.2.0 (2024-01-04)
+
+- Add support for ``*T`` (TypeVarTuple) and ``**P`` (ParamSpec) in PEP 695
+  annotations.
+
 3.1.0 (2023-07-29)
 
 - Drop support for EOL python 3.6 / 3.7
diff --git a/pyflakes/__init__.py b/pyflakes/__init__.py
index 7f5601d9..573cf70b 100644
--- a/pyflakes/__init__.py
+++ b/pyflakes/__init__.py
@@ -1 +1 @@
-__version__ = '3.1.0'
+__version__ = '3.2.0'