diff --git a/docs/changelog.rst b/docs/changelog.rst
index faab49f..2d81f58 100644
--- a/docs/changelog.rst
+++ b/docs/changelog.rst
@@ -1,6 +1,21 @@
 Changelog
 =========
 
+v1.0.3
+------
+
+- ``ImageSpec._create()`` was renamed ``ImageSpec.generate()`` and is now
+  available in the public API.
+
+- Added an ``AutoConvert`` processor to encapsulate the trasnparency
+  handling logic.
+
+- Refactored trasnaprency handling to be smarter, handleing a lot more of
+  the situations in which one would convert to or from formats that support
+  transparency.
+
+- Fixed PIL zeroing out files when write mode is enabled.
+
 v1.0.2
 ------
 
diff --git a/docs/conf.py b/docs/conf.py
index b8fd9cb..d2f8520 100644
--- a/docs/conf.py
+++ b/docs/conf.py
@@ -48,9 +48,9 @@ copyright = u'2011, Justin Driscoll, Bryan Veloso, Greg Newman, Chris Drackett &
 # built documents.
 #
 # The short X.Y version.
-version = '1.0.2'
+version = '1.0.3'
 # The full version, including alpha/beta/rc tags.
-release = '1.0.2'
+release = '1.0.3'
 
 # The language for content autogenerated by Sphinx. Refer to documentation
 # for a list of supported languages.
diff --git a/imagekit/__init__.py b/imagekit/__init__.py
index ef5b0cb..9c52efa 100644
--- a/imagekit/__init__.py
+++ b/imagekit/__init__.py
@@ -1,4 +1,4 @@
 __title__ = 'django-imagekit'
 __author__ = 'Justin Driscoll, Bryan Veloso, Greg Newman, Chris Drackett, Matthew Tretter, Eric Eldredge'
-__version__ = (1, 0, 2, 'final', 0)
+__version__ = (1, 0, 3, 'final', 0)
 __license__ = 'BSD'