diff --git a/IPython/core/release.py b/IPython/core/release.py
index e726ee125a1..b89f1bc7411 100644
--- a/IPython/core/release.py
+++ b/IPython/core/release.py
@@ -20,11 +20,11 @@
 # release.  'dev' as a _version_extra string means this is a development
 # version
 _version_major = 3
-_version_minor = 3
-_version_patch = 0
-_version_extra = 'dev'
+_version_minor = 2
+_version_patch = 1
+# _version_extra = 'dev'
 # _version_extra = 'rc1'
-# _version_extra = ''  # Uncomment this for full releases
+_version_extra = ''  # Uncomment this for full releases
 
 # release.codename is deprecated in 2.0, will be removed in 3.0
 codename = ''
diff --git a/IPython/html/static/base/js/namespace.js b/IPython/html/static/base/js/namespace.js
index ca3f90802c6..838b8fd8c03 100644
--- a/IPython/html/static/base/js/namespace.js
+++ b/IPython/html/static/base/js/namespace.js
@@ -4,7 +4,7 @@
 var IPython = IPython || {};
 define([], function(){
     "use strict";
-    IPython.version = "3.3.0-dev";
+    IPython.version = "3.2.1";
     IPython._target = '_blank';
     return IPython;
 });