diff --git a/Makefile b/Makefile
index aae0c88dd21..a390148b3ec 100755
--- a/Makefile
+++ b/Makefile
@@ -47,7 +47,7 @@
 BASE_VERSION = 1.3.0
 PREV_VERSION = 1.2.0
 CHAINTOOL_RELEASE=1.1.1
-BASEIMAGE_RELEASE=0.4.11
+BASEIMAGE_RELEASE=0.4.12
 
 # Allow to build as a submodule setting the main project to
 # the PROJECT_NAME env variable, for example,
diff --git a/common/metadata/metadata.go b/common/metadata/metadata.go
index 9a2df65e6a4..289f611a892 100644
--- a/common/metadata/metadata.go
+++ b/common/metadata/metadata.go
@@ -9,7 +9,7 @@ package metadata
 // Variables defined by the Makefile and passed in with ldflags
 var Version string = "latest"
 var CommitSHA string = "development build"
-var BaseVersion string = "0.4.11"
+var BaseVersion string = "0.4.12"
 var BaseDockerLabel string = "org.hyperledger.fabric"
 var DockerNamespace string = "hyperledger"
 var BaseDockerNamespace string = "hyperledger"