diff --git a/CHANGELOG.md b/CHANGELOG.md
index be31d8ca2..3a1951d84 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,34 @@
 
 <!-- <START NEW CHANGELOG ENTRY> -->
 
+## 2.28.3
+
+This release notably fixes a major bug with updated model fields not being used until after a server restart, and fixes a bug with Ollama in the chat. Thank you for your patience as we continue to improve Jupyter AI! 🤗
+
+([Full Changelog](https://github.com/jupyterlab/jupyter-ai/compare/@jupyter-ai/core@2.28.2...37558cd9233c1971b8793138bd334bc648a69125))
+
+### Enhancements made
+
+- Removes outdated OpenAI models and adds new ones [#1127](https://github.com/jupyterlab/jupyter-ai/pull/1127) ([@srdas](https://github.com/srdas))
+
+### Bugs fixed
+
+- Fix install step in CI [#1139](https://github.com/jupyterlab/jupyter-ai/pull/1139) ([@dlqqq](https://github.com/dlqqq))
+- Update completion model fields immediately on save [#1137](https://github.com/jupyterlab/jupyter-ai/pull/1137) ([@dlqqq](https://github.com/dlqqq))
+- Fix JSON serialization error in Ollama models [#1129](https://github.com/jupyterlab/jupyter-ai/pull/1129) ([@JanusChoi](https://github.com/JanusChoi))
+- Update model fields immediately on save [#1125](https://github.com/jupyterlab/jupyter-ai/pull/1125) ([@dlqqq](https://github.com/dlqqq))
+- Downgrade spurious 'error' logs [#1119](https://github.com/jupyterlab/jupyter-ai/pull/1119) ([@ctcjab](https://github.com/ctcjab))
+
+### Maintenance and upkeep improvements
+
+### Contributors to this release
+
+([GitHub contributors page for this release](https://github.com/jupyterlab/jupyter-ai/graphs/contributors?from=2024-11-18&to=2024-12-05&type=c))
+
+[@ctcjab](https://github.com/search?q=repo%3Ajupyterlab%2Fjupyter-ai+involves%3Actcjab+updated%3A2024-11-18..2024-12-05&type=Issues) | [@dlqqq](https://github.com/search?q=repo%3Ajupyterlab%2Fjupyter-ai+involves%3Adlqqq+updated%3A2024-11-18..2024-12-05&type=Issues) | [@JanusChoi](https://github.com/search?q=repo%3Ajupyterlab%2Fjupyter-ai+involves%3AJanusChoi+updated%3A2024-11-18..2024-12-05&type=Issues) | [@krassowski](https://github.com/search?q=repo%3Ajupyterlab%2Fjupyter-ai+involves%3Akrassowski+updated%3A2024-11-18..2024-12-05&type=Issues) | [@pre-commit-ci](https://github.com/search?q=repo%3Ajupyterlab%2Fjupyter-ai+involves%3Apre-commit-ci+updated%3A2024-11-18..2024-12-05&type=Issues) | [@srdas](https://github.com/search?q=repo%3Ajupyterlab%2Fjupyter-ai+involves%3Asrdas+updated%3A2024-11-18..2024-12-05&type=Issues)
+
+<!-- <END NEW CHANGELOG ENTRY> -->
+
 ## 2.28.2
 
 ([Full Changelog](https://github.com/jupyterlab/jupyter-ai/compare/@jupyter-ai/core@2.28.1...cbfed31bc3ee19c02a12c28a618af99ab10206be))
@@ -18,8 +46,6 @@
 
 [@dlqqq](https://github.com/search?q=repo%3Ajupyterlab%2Fjupyter-ai+involves%3Adlqqq+updated%3A2024-11-11..2024-11-18&type=Issues) | [@srdas](https://github.com/search?q=repo%3Ajupyterlab%2Fjupyter-ai+involves%3Asrdas+updated%3A2024-11-11..2024-11-18&type=Issues)
 
-<!-- <END NEW CHANGELOG ENTRY> -->
-
 ## 2.28.1
 
 ([Full Changelog](https://github.com/jupyterlab/jupyter-ai/compare/@jupyter-ai/core@2.28.0...d5d604d64552ed89ba200d56da9d3044138feaf5))
diff --git a/lerna.json b/lerna.json
index f1bb5ba4a..4f5f195c6 100644
--- a/lerna.json
+++ b/lerna.json
@@ -1,7 +1,7 @@
 {
   "$schema": "node_modules/lerna/schemas/lerna-schema.json",
   "useWorkspaces": true,
-  "version": "2.28.2",
+  "version": "2.28.3",
   "npmClient": "yarn",
   "useNx": true
 }
diff --git a/package.json b/package.json
index 33cf7fe97..9b64cd709 100644
--- a/package.json
+++ b/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@jupyter-ai/monorepo",
-  "version": "2.28.2",
+  "version": "2.28.3",
   "description": "A generative AI extension for JupyterLab",
   "private": true,
   "keywords": [
diff --git a/packages/jupyter-ai-magics/package.json b/packages/jupyter-ai-magics/package.json
index a6dee5ef9..d35898356 100644
--- a/packages/jupyter-ai-magics/package.json
+++ b/packages/jupyter-ai-magics/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@jupyter-ai/magics",
-  "version": "2.28.2",
+  "version": "2.28.3",
   "description": "Jupyter AI magics Python package. Not published on NPM.",
   "private": true,
   "homepage": "https://github.com/jupyterlab/jupyter-ai",
diff --git a/packages/jupyter-ai-test/package.json b/packages/jupyter-ai-test/package.json
index 76e22a4ae..6c23773f4 100644
--- a/packages/jupyter-ai-test/package.json
+++ b/packages/jupyter-ai-test/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@jupyter-ai/test",
-  "version": "2.28.2",
+  "version": "2.28.3",
   "description": "Jupyter AI test package. Not published on NPM or PyPI.",
   "private": true,
   "homepage": "https://github.com/jupyterlab/jupyter-ai",
diff --git a/packages/jupyter-ai/package.json b/packages/jupyter-ai/package.json
index 511aa18a4..b7a4ac328 100644
--- a/packages/jupyter-ai/package.json
+++ b/packages/jupyter-ai/package.json
@@ -1,6 +1,6 @@
 {
   "name": "@jupyter-ai/core",
-  "version": "2.28.2",
+  "version": "2.28.3",
   "description": "A generative AI extension for JupyterLab",
   "keywords": [
     "jupyter",