diff --git a/Makefile b/Makefile
index 1815a8a..78ca4b2 100644
--- a/Makefile
+++ b/Makefile
@@ -32,6 +32,7 @@
 # ernest (19jul09) - 1.7.5
 # fanny (1nov09) - 1.7.6
 # george (21may11) - 1.7.7.1
+# 16 May 2012 - 1.7.7.2
 
 
 ifeq ($(wildcard /sbin/md5),/sbin/md5)
diff --git a/NEWS b/NEWS
index 7bedcb5..87019f9 100644
--- a/NEWS
+++ b/NEWS
@@ -8,6 +8,11 @@ Highlights of what's new in each release:
 Releases
 ========
 
+v1.7.7.2 16may12
+----------------
+  * Merge pull request #63: https://github.com/paramiko/paramiko/pull/63 which
+    fixes exceptions that occur when re-keying over fast connections.
+
 v1.7.7.1 (George) 21may11
 -------------------------
   * Make the verification phase of SFTP.put optional (Larry Wright)
diff --git a/README b/README
index f977c6d..2d02430 100644
--- a/README
+++ b/README
@@ -9,10 +9,10 @@ paramiko
 :Homepage: http://www.lag.net/paramiko/
 
 
-paramiko 1.7.7.1
+paramiko 1.7.7.2
 ================
 
-"George" release, 21 may 2011
+Release of 16 May 2012
 
 
 What
diff --git a/paramiko/__init__.py b/paramiko/__init__.py
index 96b5943..e8e55a4 100644
--- a/paramiko/__init__.py
+++ b/paramiko/__init__.py
@@ -47,7 +47,7 @@ released under the GNU Lesser General Public License (LGPL).
 
 Website: U{http://www.lag.net/paramiko/}
 
-@version: 1.7.7.1 (George)
+@version: 1.7.7.2
 @author: Robey Pointer
 @contact: robeypointer@gmail.com
 @license: GNU Lesser General Public License (LGPL)
@@ -60,8 +60,8 @@ if sys.version_info < (2, 2):
 
 
 __author__ = "Robey Pointer <robeypointer@gmail.com>"
-__date__ = "21 May 2011"
-__version__ = "1.7.7.1 (George)"
+__date__ = "16 May 2012"
+__version__ = "1.7.7.2"
 __version_info__ = (1, 7, 7, 1)
 __license__ = "GNU Lesser General Public License (LGPL)"
 
diff --git a/paramiko/transport.py b/paramiko/transport.py
index 30de295..d87e1e5 100644
--- a/paramiko/transport.py
+++ b/paramiko/transport.py
@@ -194,7 +194,7 @@ class Transport (threading.Thread):
     """
 
     _PROTO_ID = '2.0'
-    _CLIENT_ID = 'paramiko_1.7.7.1'
+    _CLIENT_ID = 'paramiko_1.7.7.2'
 
     _preferred_ciphers = ( 'aes128-ctr', 'aes256-ctr', 'aes128-cbc', 'blowfish-cbc', 'aes256-cbc', '3des-cbc',
         'arcfour128', 'arcfour256' )
diff --git a/setup.py b/setup.py
index 4537a8a..c5cb745 100644
--- a/setup.py
+++ b/setup.py
@@ -48,7 +48,7 @@ if sys.platform == 'darwin':
 
 
 setup(name = "paramiko",
-      version = "1.7.7.1",
+      version = "1.7.7.2",
       description = "SSH2 protocol library",
       author = "Robey Pointer",
       author_email = "robeypointer@gmail.com",