diff --git a/CHANGELOG.md b/CHANGELOG.md
index eeeb3cd93..f732f0c6f 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,18 @@
 # Changelog
 
+## [1.12.1](https://github.com/googleapis/java-compute/compare/v1.12.0...v1.12.1) (2022-09-15)
+
+
+### Bug Fixes
+
+* **java:** Exclude unused dependencies from gax-grpc ([#721](https://github.com/googleapis/java-compute/issues/721)) ([4da7a1f](https://github.com/googleapis/java-compute/commit/4da7a1f10bb37ff923a20c23f2e7d123e199b10c))
+
+
+### Dependencies
+
+* Update dependency com.google.cloud:google-cloud-shared-dependencies to v3.0.2 ([#724](https://github.com/googleapis/java-compute/issues/724)) ([2b41e83](https://github.com/googleapis/java-compute/commit/2b41e8393293b9be22bad1dae87e3a4b0ea9bbf7))
+* Update dependency com.google.cloud:google-cloud-shared-dependencies to v3.0.3 ([#727](https://github.com/googleapis/java-compute/issues/727)) ([63bfcce](https://github.com/googleapis/java-compute/commit/63bfcce4c520c4886fbd263d53245e3e8553a253))
+
 ## [1.12.0](https://github.com/googleapis/java-compute/compare/v1.11.0...v1.12.0) (2022-08-05)
 
 
diff --git a/google-cloud-compute-bom/pom.xml b/google-cloud-compute-bom/pom.xml
index a154f7e5b..6acb026fb 100644
--- a/google-cloud-compute-bom/pom.xml
+++ b/google-cloud-compute-bom/pom.xml
@@ -3,7 +3,7 @@
   <modelVersion>4.0.0</modelVersion>
   <groupId>com.google.cloud</groupId>
   <artifactId>google-cloud-compute-bom</artifactId>
-  <version>1.12.1-SNAPSHOT</version><!-- {x-version-update:google-cloud-compute:current} -->
+  <version>1.12.1</version><!-- {x-version-update:google-cloud-compute:current} -->
   <packaging>pom</packaging>
   <parent>
     <groupId>com.google.cloud</groupId>
@@ -52,12 +52,12 @@
       <dependency>
         <groupId>com.google.cloud</groupId>
         <artifactId>google-cloud-compute</artifactId>
-        <version>1.12.1-SNAPSHOT</version><!-- {x-version-update:google-cloud-compute:current} -->
+        <version>1.12.1</version><!-- {x-version-update:google-cloud-compute:current} -->
       </dependency>
       <dependency>
         <groupId>com.google.api.grpc</groupId>
         <artifactId>proto-google-cloud-compute-v1</artifactId>
-        <version>1.12.1-SNAPSHOT</version><!-- {x-version-update:proto-google-cloud-compute-v1:current} -->
+        <version>1.12.1</version><!-- {x-version-update:proto-google-cloud-compute-v1:current} -->
       </dependency>
     </dependencies>
   </dependencyManagement>
diff --git a/google-cloud-compute/pom.xml b/google-cloud-compute/pom.xml
index 79d79b9fa..d2cbfd1bd 100644
--- a/google-cloud-compute/pom.xml
+++ b/google-cloud-compute/pom.xml
@@ -3,7 +3,7 @@
   <modelVersion>4.0.0</modelVersion>
   <groupId>com.google.cloud</groupId>
   <artifactId>google-cloud-compute</artifactId>
-  <version>1.12.1-SNAPSHOT</version><!-- {x-version-update:google-cloud-compute:current} -->
+  <version>1.12.1</version><!-- {x-version-update:google-cloud-compute:current} -->
   <packaging>jar</packaging>
   <name>Google Compute Engine</name>
   <url>https://github.com/googleapis/java-compute</url>
@@ -13,7 +13,7 @@
   <parent>
     <groupId>com.google.cloud</groupId>
     <artifactId>google-cloud-compute-parent</artifactId>
-    <version>1.12.1-SNAPSHOT</version><!-- {x-version-update:google-cloud-compute:current} -->
+    <version>1.12.1</version><!-- {x-version-update:google-cloud-compute:current} -->
   </parent>
   <properties>
     <site.installationModule>google-cloud-compute</site.installationModule>
diff --git a/pom.xml b/pom.xml
index 88341ebd8..f6f1a764e 100644
--- a/pom.xml
+++ b/pom.xml
@@ -4,7 +4,7 @@
   <groupId>com.google.cloud</groupId>
   <artifactId>google-cloud-compute-parent</artifactId>
   <packaging>pom</packaging>
-  <version>1.12.1-SNAPSHOT</version><!-- {x-version-update:google-cloud-compute:current} -->
+  <version>1.12.1</version><!-- {x-version-update:google-cloud-compute:current} -->
   <name>Google Compute Engine Parent</name>
   <url>https://github.com/googleapis/java-compute</url>
   <description>
@@ -61,12 +61,12 @@
       <dependency>
         <groupId>com.google.cloud</groupId>
         <artifactId>google-cloud-compute</artifactId>
-        <version>1.12.1-SNAPSHOT</version><!-- {x-version-update:google-cloud-compute:current} -->
+        <version>1.12.1</version><!-- {x-version-update:google-cloud-compute:current} -->
       </dependency>
       <dependency>
         <groupId>com.google.api.grpc</groupId>
         <artifactId>proto-google-cloud-compute-v1</artifactId>
-        <version>1.12.1-SNAPSHOT</version><!-- {x-version-update:proto-google-cloud-compute-v1:current} -->
+        <version>1.12.1</version><!-- {x-version-update:proto-google-cloud-compute-v1:current} -->
       </dependency>
 
       <dependency>
diff --git a/proto-google-cloud-compute-v1/pom.xml b/proto-google-cloud-compute-v1/pom.xml
index 55f7c2d12..d5cff3107 100644
--- a/proto-google-cloud-compute-v1/pom.xml
+++ b/proto-google-cloud-compute-v1/pom.xml
@@ -4,13 +4,13 @@
   <modelVersion>4.0.0</modelVersion>
   <groupId>com.google.api.grpc</groupId>
   <artifactId>proto-google-cloud-compute-v1</artifactId>
-  <version>1.12.1-SNAPSHOT</version><!-- {x-version-update:proto-google-cloud-compute-v1:current} -->
+  <version>1.12.1</version><!-- {x-version-update:proto-google-cloud-compute-v1:current} -->
   <name>proto-google-cloud-compute-v1</name>
   <description>Proto library for google-cloud-compute</description>
   <parent>
     <groupId>com.google.cloud</groupId>
     <artifactId>google-cloud-compute-parent</artifactId>
-    <version>1.12.1-SNAPSHOT</version><!-- {x-version-update:google-cloud-compute:current} -->
+    <version>1.12.1</version><!-- {x-version-update:google-cloud-compute:current} -->
   </parent>
   <dependencies>
     <dependency>
diff --git a/versions.txt b/versions.txt
index 12cf80661..de3057f73 100644
--- a/versions.txt
+++ b/versions.txt
@@ -1,5 +1,5 @@
 # Format:
 # module:released-version:current-version
 
-google-cloud-compute:1.12.0:1.12.1-SNAPSHOT
-proto-google-cloud-compute-v1:1.12.0:1.12.1-SNAPSHOT
+google-cloud-compute:1.12.1:1.12.1
+proto-google-cloud-compute-v1:1.12.1:1.12.1