diff --git a/CHANGES.md b/CHANGES.md
index e5608baa114a..5cec3d817dd3 100644
--- a/CHANGES.md
+++ b/CHANGES.md
@@ -1,3 +1,13 @@
+Synapse 1.12.2 (2020-04-02)
+===========================
+
+This release works around [an
+issue](https://github.com/matrix-org/synapse/issues/7208) with building the
+debian packages.
+
+No other significant changes since 1.12.1.
+
+
 Synapse 1.12.1 (2020-04-02)
 ===========================
 
diff --git a/debian/changelog b/debian/changelog
index 8e14e59c0db9..03b30cd12f18 100644
--- a/debian/changelog
+++ b/debian/changelog
@@ -1,3 +1,9 @@
+matrix-synapse-py3 (1.12.2) stable; urgency=medium
+
+  * New synapse release 1.12.2.
+
+ -- Synapse Packaging team <packages@matrix.org>  Mon, 02 Apr 2020 19:02:17 +0000
+
 matrix-synapse-py3 (1.12.1) stable; urgency=medium
 
   * New synapse release 1.12.1.
diff --git a/synapse/__init__.py b/synapse/__init__.py
index 5df7d51ab12d..bdad75113dfa 100644
--- a/synapse/__init__.py
+++ b/synapse/__init__.py
@@ -36,7 +36,7 @@
 except ImportError:
     pass
 
-__version__ = "1.12.1"
+__version__ = "1.12.2"
 
 if bool(os.environ.get("SYNAPSE_TEST_PATCH_LOG_CONTEXTS", False)):
     # We import here so that we don't have to install a bunch of deps when
diff --git a/synapse/python_dependencies.py b/synapse/python_dependencies.py
index 8de8cb2c1287..3274eb986391 100644
--- a/synapse/python_dependencies.py
+++ b/synapse/python_dependencies.py
@@ -61,7 +61,9 @@
     "pyasn1-modules>=0.0.7",
     "daemonize>=2.3.1",
     "bcrypt>=3.1.0",
-    "pillow>=4.3.0",
+    # Pillow 7.1.0 causes the following issue on debian buster:
+    # https://github.com/python-pillow/Pillow/issues/2377
+    "pillow>=4.3.0,<7.1.0",
     "sortedcontainers>=1.4.4",
     "pymacaroons>=0.13.0",
     "msgpack>=0.5.2",