diff --git a/Lib/fontTools/__init__.py b/Lib/fontTools/__init__.py
index 6d25f44..e2483fc 100644
--- a/Lib/fontTools/__init__.py
+++ b/Lib/fontTools/__init__.py
@@ -5,6 +5,6 @@
 
 log = logging.getLogger(__name__)
 
-version = __version__ = "3.39.1.dev0"
+version = __version__ = "3.40.0"
 
 __all__ = ["version", "log", "configLogger"]
diff --git a/NEWS.rst b/NEWS.rst
index b440ec5..c2d1c9f 100644
--- a/NEWS.rst
+++ b/NEWS.rst
@@ -1,3 +1,6 @@
+3.40.0 (released 2019-04-08)
+----------------------------
+
 - [subset] Fixed error while subsetting ``VVAR`` with ``--retain-gids``
   option (#1552).
 - [designspaceLib] Use up-to-date default location in ``findDefault`` method
diff --git a/setup.cfg b/setup.cfg
index 4d53ab1..d7e71bb 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 3.39.1.dev0
+current_version = 3.40.0
 commit = True
 tag = False
 tag_name = {new_version}
diff --git a/setup.py b/setup.py
index 04acbaa..b521dcc 100755
--- a/setup.py
+++ b/setup.py
@@ -352,7 +352,7 @@
 
 setup(
 	name="fonttools",
-	version="3.39.1.dev0",
+	version="3.40.0",
 	description="Tools to manipulate font files",
 	author="Just van Rossum",
 	author_email="just@letterror.com",