Increment version to 1.2.1
diff --git a/.gitignore b/.gitignore
index 364a01f..ce8aaa7 100644
--- a/.gitignore
+++ b/.gitignore
@@ -2,5 +2,6 @@
*.egg-info
*.pyc
.tox
-dist
+/dist/
+/build/
docs/_build
diff --git a/NEWS.txt b/NEWS.txt
index 2645161..6582dff 100644
--- a/NEWS.txt
+++ b/NEWS.txt
@@ -1,4 +1,7 @@
-1.2.0 (2016-05-01):
+1.2.1 (2015-05-05):
+ - Fix false RedefinedWhileUnesed for submodule imports
+
+1.2.0 (2016-05-03):
- Warn against reusing exception names after the except: block on Python 3
- Improve the error messages for imports
diff --git a/pyflakes/__init__.py b/pyflakes/__init__.py
index 58d478a..3f262a6 100644
--- a/pyflakes/__init__.py
+++ b/pyflakes/__init__.py
@@ -1 +1 @@
-__version__ = '1.2.0'
+__version__ = '1.2.1'
