diff --git a/releases/v1.2.0-beta.0.toml b/releases/v1.2.0-beta.0.toml
deleted file mode 100644
index 5880ed668..000000000
--- a/releases/v1.2.0-beta.0.toml
+++ /dev/null
@@ -1,67 +0,0 @@
-# commit to be tagged for new release
-commit = "HEAD"
-
-project_name = "containerd"
-github_repo = "containerd/containerd"
-match_deps = "^github.com/(containerd/[a-zA-Z0-9-]+)$"
-
-# previous release
-previous = "v1.1.0"
-
-pre_release = true
-
-preface = """\
-After two major releases of containerd, we have brought back the beta releases to
-introduce a new runtime interface and new APIs. The 1.2 release will be fully
-backwards compatibility and have no API breakage. The API additions included in
-this release is focused on making containerd more extensible and cover more user
-cases.
-
-### New V2 Runtime
-
-A new v2 runtime has been added with a stable gRPC interface for managing
-containers through external shims.
-
-This allows runtime authors to easily integrate with containerd over a stable
-API.
-
-Various runtimes can be selected on a per container basis using the `WithRuntime` opt
-or to test via ctr `ctr run --runtime io.containerd.runc.v1`.
-
-[Documentation](https://github.com/containerd/containerd/blob/master/runtime/v2/README.md)
-
-### New Proxy Plugins
-
-A new proxy plugin configuration has been added to allow external snapshotters
-be connected to containerd using gRPC.
-
-### Managed /opt directory
-
-A new `Install` method on the containerd client allows users to publish host level
-binaries using standard container build tooling and container distribution tooling
-to download containerd related binaries on their systems.
-
-This can be used for v2 runtime authors to get their runtime shims on an existing
-containerd system. It can also be used to install `runc` and other related tools.
-
-```bash
-> ctr content fetch docker.io/crosbymichael/runc:latest
-> ctr install docker.io/crosbymichael/runc:latest
-```
-
-[Documentation](https://github.com/containerd/containerd/blob/master/docs/managed-opt.md)
-
-### API Changes
-
-Minor API additions
-"""
-
-# notable prs to include in the release notes, 1234 is the pr number
-[notes]
-
-[breaking]
-
-[rename_deps]
-	[rename_deps.ttrpc]
-	old = "github.com/stevvooe/ttrpc"
-	new = "github.com/containerd/ttrpc"
diff --git a/releases/v1.2.0-beta.1.toml b/releases/v1.2.0-beta.toml
similarity index 88%
rename from releases/v1.2.0-beta.1.toml
rename to releases/v1.2.0-beta.toml
index 19dc4b1b1..f435146ba 100644
--- a/releases/v1.2.0-beta.1.toml
+++ b/releases/v1.2.0-beta.toml
@@ -53,9 +53,19 @@ containerd system. It can also be used to install `runc` and other related tools
 
 [Documentation](https://github.com/containerd/containerd/blob/master/docs/managed-opt.md)
 
+### Garbage Collection
+
+Add support for cleaning up leases and content ingests to garbage collections.
+
+Add expiration label to clean up temporary resources.
+
 ### API Changes
 
-Minor API additions"""
+Minor API additions
+
+### Other Improvements
+
+Improved multi-arch image support using more precise matching and ranking"""
 
 # notable prs to include in the release notes, 1234 is the pr number
 [notes]
diff --git a/version/version.go b/version/version.go
index 23f5da29c..a34595c7c 100644
--- a/version/version.go
+++ b/version/version.go
@@ -21,7 +21,7 @@ var (
 	Package = "github.com/containerd/containerd"
 
 	// Version holds the complete version number. Filled in at linking time.
-	Version = "1.2.0-beta.1+unknown"
+	Version = "1.2.0-beta.2+unknown"
 
 	// Revision is filled with the VCS (e.g. git) revision being used to build
 	// the program at linking time.