diff --git a/Lib/fontTools/__init__.py b/Lib/fontTools/__init__.py
index 3f259ae5a..ef44e8ac9 100644
--- a/Lib/fontTools/__init__.py
+++ b/Lib/fontTools/__init__.py
@@ -3,6 +3,6 @@ from fontTools.misc.loggingTools import configLogger
 
 log = logging.getLogger(__name__)
 
-version = __version__ = "4.39.4.dev0"
+version = __version__ = "4.39.4"
 
 __all__ = ["version", "log", "configLogger"]
diff --git a/NEWS.rst b/NEWS.rst
index 9fce56307..ecbf3c577 100644
--- a/NEWS.rst
+++ b/NEWS.rst
@@ -1,3 +1,14 @@
+4.39.4 (released 2023-05-10)
+----------------------------
+
+- [varLib.interpolatable] Allow for sparse masters (#3075)
+- [merge] Handle differing default/nominalWidthX in CFF (#3070)
+- [ttLib] Add missing main.py file to ttLib package (#3088)
+- [ttx] Fix missing composite instructions in XML (#3092)
+- [ttx] Fix split tables option to work on filenames containing '%' (#3096)
+- [featureVars] Process lookups for features other than rvrn last (#3099)
+- [feaLib] support multiple substitution with classes (#3103)
+
 4.39.3 (released 2023-03-28)
 ----------------------------
 
diff --git a/setup.cfg b/setup.cfg
index d375c5df0..ede9cbd62 100644
--- a/setup.cfg
+++ b/setup.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 4.39.4.dev0
+current_version = 4.39.4
 commit = True
 tag = False
 tag_name = {new_version}
diff --git a/setup.py b/setup.py
index 7c704fe35..40a67c8f9 100755
--- a/setup.py
+++ b/setup.py
@@ -467,7 +467,7 @@ if ext_modules:
 
 setup_params = dict(
     name="fonttools",
-    version="4.39.4.dev0",
+    version="4.39.4",
     description="Tools to manipulate font files",
     author="Just van Rossum",
     author_email="just@letterror.com",