diff --git a/CHANGELOG.md b/CHANGELOG.md
index 9908ffe386..2cf89024a8 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,12 @@
 # CHANGELOG
 
+## 0.3.0
+
+ * Create load balancers using a single OCI API request significantly reducing fresh load balancer creation time [[#148][6]]
+ * Fix failure to delete security list rules when deleting a Service type=LoadBalancer or changing its NodePort(s) [[#151][7]]
+ * Move to ConfigMap based leader election [[#160][8]]
+ * Fix potential panic when a load balancer had no backends [[#157][9]]
+
 ## 0.2.1
 
  * Add OCI proxy support [[#135][5]]
@@ -30,3 +37,7 @@
 [3]: https://github.com/oracle/oci-cloud-controller-manager/issues/131
 [4]: https://github.com/oracle/oci-cloud-controller-manager/issues/125
 [5]: https://github.com/oracle/oci-cloud-controller-manager/issues/135
+[6]: https://github.com/oracle/oci-cloud-controller-manager/issues/148
+[7]: https://github.com/oracle/oci-cloud-controller-manager/issues/151
+[8]: https://github.com/oracle/oci-cloud-controller-manager/issues/160
+[9]: https://github.com/oracle/oci-cloud-controller-manager/issues/157
diff --git a/manifests/oci-cloud-controller-manager.yaml b/manifests/oci-cloud-controller-manager.yaml
index cd9ac47206..fa0d9d74e3 100644
--- a/manifests/oci-cloud-controller-manager.yaml
+++ b/manifests/oci-cloud-controller-manager.yaml
@@ -36,7 +36,7 @@ spec:
       serviceAccountName: cloud-controller-manager
       containers:
         - name: oci-cloud-controller-manager
-          image: wcr.io/oracle/oci-cloud-controller-manager:0.1.1
+          image: wcr.io/oracle/oci-cloud-controller-manager:0.3.0
           args:
             - --cloud-config=/etc/oci/cloud-provider.yaml
             - --cloud-provider=oci