diff --git a/CMakeLists.txt b/CMakeLists.txt
index b225782f724e722b212292b1b148513609c8df9d..ecacaf561abbf7ff2d74d2e74cabe7dc69afbbd6 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -11,7 +11,7 @@
 
 cmake_minimum_required(VERSION 3.15)
 
-project(Rec VERSION 38.10
+project(Rec VERSION 38.11
 	LANGUAGES CXX)
 
 # Enable testing with CTest/CDash
diff --git a/ReleaseNotes/v38r11.md b/ReleaseNotes/v38r11.md
new file mode 100644
index 0000000000000000000000000000000000000000..403a67c35fa4fa4b7dbaa293fe58768848de3576
--- /dev/null
+++ b/ReleaseNotes/v38r11.md
@@ -0,0 +1,43 @@
+2025-09-03 Rec v38r11
+===
+
+This version uses
+Lbcom [v37r11](../../../../Lbcom/-/tags/v37r11),
+LHCb [v57r11](../../../../LHCb/-/tags/v57r11),
+Detector [v3r3p3](../../../../Detector/-/tags/v3r3p3),
+Gaudi [v40r0](../../../../Gaudi/-/tags/v40r0) and
+LCG [106c](http://lcginfo.cern.ch/release/106c/) with ROOT 6.32.10.
+
+This version is released on the `2025-patches` branch.
+Built relative to Rec [v38r10](/../../tags/v38r10), with the following changes:
+
+### New features ~"new feature"
+
+
+
+### Fixes ~"bug fix" ~workaround
+
+
+
+### Enhancements ~enhancement
+
+- ~Composites | Reduce combinatorics in checkOverlap, !4397 (@ahennequ)
+- ~Monitoring ~Conditions | Suppression warnings in BeamSpotMonitor, !4483 (@spradlin)
+
+
+### Code cleanups and changes to tests ~modernisation ~cleanup ~testing
+
+- ~Build | Fixes for sanitizer builds, !3928 (@rmatev)
+
+
+### Documentation ~Documentation
+
+
+### Other
+
+- ~Calo | Adding gamma to energy, !4501 (@jmarchan) [#19]
+- ~Calo | Fix CaloESLCorrections conditions path, !4305 (@jmarchan)
+- ~Composites | Update DecayLengthSignificance and Lifetime functions to use the same math, !4520 (@wouter)
+- Update References for: LHCb!5278, Panoptes!531 based on lhcb-2025-patches-mr/687, !4544 (@lhcbsoft)
+- Following stdout changes in Gaudi v40r0 for 2025-patches, !4540 (@msaur)
+- Add option to write output of BeamSpotMon as json file, !4536 (@freiss)