diff --git a/NEWS b/NEWS
index 3800494df2f..b0d68feaecf 100644
--- a/NEWS
+++ b/NEWS
@@ -11,6 +11,16 @@
 ### Features:
 ### Bugfixes:
 
+## 1.13.1-rc1 (August 22, 2022)
+#### Bugfixes
+* Fixed flow control protocol in DC transport
+* Fixed reordering of pending operations in DC transport
+* Fixed relaxed order detection in IB transports
+* Fixed build configuration and IB ops references
+* Fixed bandwidth calculation during wireup phase
+* Fixed TCP transport server port selection
+* Minor fixes in CI testing
+
 ## 1.13.0 (July 7, 2022)
 #### Features
 ##### Core
diff --git a/configure.ac b/configure.ac
index f183232baab..d8ddb1f965e 100644
--- a/configure.ac
+++ b/configure.ac
@@ -10,7 +10,7 @@ AC_PREREQ([2.63])
 
 define([ucx_ver_major], 1)  # Major version. Usually does not change.
 define([ucx_ver_minor], 13) # Minor version. Increased for each release.
-define([ucx_ver_patch], 0)  # Patch version. Increased for a bugfix release.
+define([ucx_ver_patch], 1)  # Patch version. Increased for a bugfix release.
 define([ucx_ver_extra], )   # Extra version string. Empty for a general release.
 
 define([ts], esyscmd([sh -c "date +%Y%m%d%H%M%S"]))
diff --git a/ucx.spec.in b/ucx.spec.in
index e98bc32c32b..767e85b0e20 100644
--- a/ucx.spec.in
+++ b/ucx.spec.in
@@ -349,6 +349,8 @@ library internals, protocol objects, transports status, and more.
 %endif
 
 %changelog
+* Mon Aug 22 2022 Evgeny Leksikov <evgenylek@mellanox.com> 1.13.1-1
+- Bump version to 1.13.1
 * Wed Nov 10 2021 Yossi Itigin <yosefe@mellanox.com> 1.13.0-1
 - Bump version to 1.13.0
 * Wed Jun 9 2021 Yossi Itigin <yosefe@mellanox.com> 1.12.0-1