diff --git a/Directory.Build.props b/Directory.Build.props
index 8b31c988888..b9292cd105d 100644
--- a/Directory.Build.props
+++ b/Directory.Build.props
@@ -1,8 +1,8 @@
 <Project xmlns="http://schemas.microsoft.com/developer/msbuild/2003">
 	<PropertyGroup>
-		<ClientOfficialVersion>3.38.0</ClientOfficialVersion>
+		<ClientOfficialVersion>3.38.1</ClientOfficialVersion>
 		<ClientPreviewVersion>3.39.0</ClientPreviewVersion>
-		<ClientPreviewSuffixVersion>preview.0</ClientPreviewSuffixVersion>
+		<ClientPreviewSuffixVersion>preview.1</ClientPreviewSuffixVersion>
 		<DirectVersion>3.32.0</DirectVersion>
 		<EncryptionOfficialVersion>2.0.4</EncryptionOfficialVersion>
 		<EncryptionPreviewVersion>2.1.0</EncryptionPreviewVersion>
diff --git a/changelog.md b/changelog.md
index 09228b9cfed..d87d89a505f 100644
--- a/changelog.md
+++ b/changelog.md
@@ -13,6 +13,21 @@ Preview features are treated as a separate branch and will not be included in th
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/),
 and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
+### <a name="3.39.0-preview.1"/> [3.39.0-preview.1](https://www.nuget.org/packages/Microsoft.Azure.Cosmos/3.39.0-preview.1) - 2024-02-02
+### <a name="3.38.1"/> [3.38.1](https://www.nuget.org/packages/Microsoft.Azure.Cosmos/3.38.1) - 2024-02-02
+
+#### Fixed
+- [4294](https://github.com/Azure/azure-cosmos-dotnet-v3/pull/4294) DisableServerCertificateValidation: Fixes Default HttpClient to honor DisableServerCertificateValidation (#4294)
+
+#### Added
+- [4299](https://github.com/Azure/azure-cosmos-dotnet-v3/pull/4299) Query: Adds environment variable for overriding EnableOptimisticDirectExecution default (#4299)
+  > Note: This change provides another way to manage the upgrade to `3.38`. It provides an option to avoid potential disruption due to the breaking change (see the note below) if only config deployment is preferred, instead of any explicit code modification.
+  > With this change, users can set the environment variable AZURE_COSMOS_OPTIMISTIC_DIRECT_EXECUTION_ENABLED to false in their production environments while upgrading from previous minor version (`3.37` or below) to `3.38.1` (or above).
+  > This will signal the SDK to disable Optimistic Direct Execution by default.
+  > Once the environment is fully upgraded to the target version, the environment variable can be removed (or set to true) to enable ODE.
+  > It is recommended that the environment variable is used only to manage the upgrade and removed once the deployment is complete.
+  > Please note that environment variable acts as the override only for choosing the default value. If the code explicitly modifies the setting, that value will be honored during actual operations.
+
 ### <a name="3.39.0-preview.0"/> [3.39.0-preview.0](https://www.nuget.org/packages/Microsoft.Azure.Cosmos/3.39.0-preview.0) - 2024-01-31
 
 #### Added