diff --git a/CHANGES.md b/CHANGES.md
index 6f42ebba93..1943f7e2ea 100644
--- a/CHANGES.md
+++ b/CHANGES.md
@@ -1,3 +1,51 @@
+# Synapse 1.95.0rc1 (2023-10-17)
+
+### Bugfixes
+
+- Remove legacy unspecced `knock_state_events` field returned in some responses. ([\#16403](https://github.com/matrix-org/synapse/issues/16403))
+- Fixes possbile `AttributeError` when `_matrix/client/v3/account/whoami` is called over a unix socket. Contributed by @Sir-Photch. ([\#16404](https://github.com/matrix-org/synapse/issues/16404))
+- Properly return inline media when content types have parameters. ([\#16440](https://github.com/matrix-org/synapse/issues/16440))
+- Prevent the purging of large rooms from timing out when Postgres is in use. The timeout which causes this issue was introduced in Synapse 1.88.0. ([\#16455](https://github.com/matrix-org/synapse/issues/16455))
+- Improve the performance of purging rooms, particularly encrypted rooms. ([\#16457](https://github.com/matrix-org/synapse/issues/16457))
+- Fix a bug introduced in Synapse 1.59.0 where servers would be incorrectly marked as available when a request resulted in an error. ([\#16506](https://github.com/matrix-org/synapse/issues/16506))
+
+### Improved Documentation
+
+- Document internal background update mechanism. ([\#16420](https://github.com/matrix-org/synapse/issues/16420))
+- Fix a typo in the sql for [useful SQL for admins document](https://matrix-org.github.io/synapse/latest/usage/administration/useful_sql_for_admins.html). ([\#16477](https://github.com/matrix-org/synapse/issues/16477))
+
+### Internal Changes
+
+- Bump pyo3 from 0.17.1 to 0.19.2. ([\#16162](https://github.com/matrix-org/synapse/issues/16162))
+- Update registration of media repository URLs. ([\#16419](https://github.com/matrix-org/synapse/issues/16419))
+- Improve type hints. ([\#16421](https://github.com/matrix-org/synapse/issues/16421), [\#16468](https://github.com/matrix-org/synapse/issues/16468), [\#16469](https://github.com/matrix-org/synapse/issues/16469), [\#16507](https://github.com/matrix-org/synapse/issues/16507))
+- Refactor some code to simplify and better type receipts stream adjacent code. ([\#16426](https://github.com/matrix-org/synapse/issues/16426))
+- Factor out `MultiWriter` token from `RoomStreamToken`. ([\#16427](https://github.com/matrix-org/synapse/issues/16427))
+- Improve code comments. ([\#16428](https://github.com/matrix-org/synapse/issues/16428))
+- Reduce memory allocations. ([\#16429](https://github.com/matrix-org/synapse/issues/16429), [\#16431](https://github.com/matrix-org/synapse/issues/16431), [\#16433](https://github.com/matrix-org/synapse/issues/16433), [\#16434](https://github.com/matrix-org/synapse/issues/16434), [\#16438](https://github.com/matrix-org/synapse/issues/16438), [\#16444](https://github.com/matrix-org/synapse/issues/16444))
+- Remove unused method. ([\#16435](https://github.com/matrix-org/synapse/issues/16435))
+- Improve rate limiting logic. ([\#16441](https://github.com/matrix-org/synapse/issues/16441))
+- Do not block running of CI behind the check for sign-off on PRs. ([\#16454](https://github.com/matrix-org/synapse/issues/16454))
+- Update the release script to remind releaser to check for special release notes. ([\#16461](https://github.com/matrix-org/synapse/issues/16461))
+- Update complement.sh to match new public API shape. ([\#16466](https://github.com/matrix-org/synapse/issues/16466))
+- Clean up logging on event persister endpoints. ([\#16488](https://github.com/matrix-org/synapse/issues/16488))
+- Remove useless async job to delete device messages on sync, since we only deliver (and hence delete) up to 100 device messages at a time. ([\#16491](https://github.com/matrix-org/synapse/issues/16491))
+
+### Updates to locked dependencies
+
+* Bump bleach from 6.0.0 to 6.1.0. ([\#16451](https://github.com/matrix-org/synapse/issues/16451))
+* Bump jsonschema from 4.19.0 to 4.19.1. ([\#16500](https://github.com/matrix-org/synapse/issues/16500))
+* Bump netaddr from 0.8.0 to 0.9.0. ([\#16453](https://github.com/matrix-org/synapse/issues/16453))
+* Bump packaging from 23.1 to 23.2. ([\#16497](https://github.com/matrix-org/synapse/issues/16497))
+* Bump pillow from 10.0.1 to 10.1.0. ([\#16498](https://github.com/matrix-org/synapse/issues/16498))
+* Bump psycopg2 from 2.9.8 to 2.9.9. ([\#16452](https://github.com/matrix-org/synapse/issues/16452))
+* Bump pyo3-log from 0.8.3 to 0.8.4. ([\#16495](https://github.com/matrix-org/synapse/issues/16495))
+* Bump ruff from 0.0.290 to 0.0.292. ([\#16449](https://github.com/matrix-org/synapse/issues/16449))
+* Bump sentry-sdk from 1.31.0 to 1.32.0. ([\#16496](https://github.com/matrix-org/synapse/issues/16496))
+* Bump serde from 1.0.188 to 1.0.189. ([\#16494](https://github.com/matrix-org/synapse/issues/16494))
+* Bump types-bleach from 6.0.0.4 to 6.1.0.0. ([\#16450](https://github.com/matrix-org/synapse/issues/16450))
+* Bump types-jsonschema from 4.17.0.10 to 4.19.0.3. ([\#16499](https://github.com/matrix-org/synapse/issues/16499))
+
 # Synapse 1.94.0 (2023-10-10)
 
 No significant changes since 1.94.0rc1.
diff --git a/changelog.d/16162.misc b/changelog.d/16162.misc
deleted file mode 100644
index b6c77229c1..0000000000
--- a/changelog.d/16162.misc
+++ /dev/null
@@ -1 +0,0 @@
-Bump pyo3 from 0.17.1 to 0.19.2.
diff --git a/changelog.d/16403.bugfix b/changelog.d/16403.bugfix
deleted file mode 100644
index 453c975a63..0000000000
--- a/changelog.d/16403.bugfix
+++ /dev/null
@@ -1 +0,0 @@
-Remove legacy unspecced `knock_state_events` field returned in some responses.
diff --git a/changelog.d/16404.bugfix b/changelog.d/16404.bugfix
deleted file mode 100644
index 3fd5028b33..0000000000
--- a/changelog.d/16404.bugfix
+++ /dev/null
@@ -1 +0,0 @@
-Fixes possbile `AttributeError` when `_matrix/client/v3/account/whoami` is called over a unix socket. Contributed by @Sir-Photch.
diff --git a/changelog.d/16419.misc b/changelog.d/16419.misc
deleted file mode 100644
index 591f371d00..0000000000
--- a/changelog.d/16419.misc
+++ /dev/null
@@ -1 +0,0 @@
-Update registration of media repository URLs.
diff --git a/changelog.d/16420.doc b/changelog.d/16420.doc
deleted file mode 100644
index 1c0c6b9577..0000000000
--- a/changelog.d/16420.doc
+++ /dev/null
@@ -1 +0,0 @@
-Document internal background update mechanism.
diff --git a/changelog.d/16421.misc b/changelog.d/16421.misc
deleted file mode 100644
index 93ceaeafc9..0000000000
--- a/changelog.d/16421.misc
+++ /dev/null
@@ -1 +0,0 @@
-Improve type hints.
diff --git a/changelog.d/16426.misc b/changelog.d/16426.misc
deleted file mode 100644
index 208a007171..0000000000
--- a/changelog.d/16426.misc
+++ /dev/null
@@ -1 +0,0 @@
-Refactor some code to simplify and better type receipts stream adjacent code.
diff --git a/changelog.d/16427.misc b/changelog.d/16427.misc
deleted file mode 100644
index 44f0e0595e..0000000000
--- a/changelog.d/16427.misc
+++ /dev/null
@@ -1 +0,0 @@
-Factor out `MultiWriter` token from `RoomStreamToken`.
diff --git a/changelog.d/16428.misc b/changelog.d/16428.misc
deleted file mode 100644
index 75c9c3b757..0000000000
--- a/changelog.d/16428.misc
+++ /dev/null
@@ -1 +0,0 @@
-Improve code comments.
diff --git a/changelog.d/16429.misc b/changelog.d/16429.misc
deleted file mode 100644
index bd7cdd42af..0000000000
--- a/changelog.d/16429.misc
+++ /dev/null
@@ -1 +0,0 @@
-Reduce memory allocations.
diff --git a/changelog.d/16431.misc b/changelog.d/16431.misc
deleted file mode 100644
index bd7cdd42af..0000000000
--- a/changelog.d/16431.misc
+++ /dev/null
@@ -1 +0,0 @@
-Reduce memory allocations.
diff --git a/changelog.d/16433.misc b/changelog.d/16433.misc
deleted file mode 100644
index bd7cdd42af..0000000000
--- a/changelog.d/16433.misc
+++ /dev/null
@@ -1 +0,0 @@
-Reduce memory allocations.
diff --git a/changelog.d/16434.misc b/changelog.d/16434.misc
deleted file mode 100644
index bd7cdd42af..0000000000
--- a/changelog.d/16434.misc
+++ /dev/null
@@ -1 +0,0 @@
-Reduce memory allocations.
diff --git a/changelog.d/16435.misc b/changelog.d/16435.misc
deleted file mode 100644
index e541607161..0000000000
--- a/changelog.d/16435.misc
+++ /dev/null
@@ -1 +0,0 @@
-Remove unused method.
diff --git a/changelog.d/16438.misc b/changelog.d/16438.misc
deleted file mode 100644
index bd7cdd42af..0000000000
--- a/changelog.d/16438.misc
+++ /dev/null
@@ -1 +0,0 @@
-Reduce memory allocations.
diff --git a/changelog.d/16440.bugfix b/changelog.d/16440.bugfix
deleted file mode 100644
index 6ce0b1e4af..0000000000
--- a/changelog.d/16440.bugfix
+++ /dev/null
@@ -1 +0,0 @@
-Properly return inline media when content types have parameters.
diff --git a/changelog.d/16441.misc b/changelog.d/16441.misc
deleted file mode 100644
index 32264a62b2..0000000000
--- a/changelog.d/16441.misc
+++ /dev/null
@@ -1 +0,0 @@
-Improve rate limiting logic.
diff --git a/changelog.d/16444.misc b/changelog.d/16444.misc
deleted file mode 100644
index bd7cdd42af..0000000000
--- a/changelog.d/16444.misc
+++ /dev/null
@@ -1 +0,0 @@
-Reduce memory allocations.
diff --git a/changelog.d/16454.misc b/changelog.d/16454.misc
deleted file mode 100644
index 1e75dc436f..0000000000
--- a/changelog.d/16454.misc
+++ /dev/null
@@ -1 +0,0 @@
-Do not block running of CI behind the check for sign-off on PRs.
diff --git a/changelog.d/16455.bugfix b/changelog.d/16455.bugfix
deleted file mode 100644
index 653a25d3b6..0000000000
--- a/changelog.d/16455.bugfix
+++ /dev/null
@@ -1 +0,0 @@
-Prevent the purging of large rooms from timing out when Postgres is in use. The timeout which causes this issue was introduced in Synapse 1.88.0.
diff --git a/changelog.d/16457.bugfix b/changelog.d/16457.bugfix
deleted file mode 100644
index b9a95cc510..0000000000
--- a/changelog.d/16457.bugfix
+++ /dev/null
@@ -1 +0,0 @@
-Improve the performance of purging rooms, particularly encrypted rooms.
diff --git a/changelog.d/16461.misc b/changelog.d/16461.misc
deleted file mode 100644
index 96d040b742..0000000000
--- a/changelog.d/16461.misc
+++ /dev/null
@@ -1 +0,0 @@
-Update the release script to remind releaser to check for special release notes.
\ No newline at end of file
diff --git a/changelog.d/16466.misc b/changelog.d/16466.misc
deleted file mode 100644
index 471056bb0f..0000000000
--- a/changelog.d/16466.misc
+++ /dev/null
@@ -1 +0,0 @@
-Update complement.sh to match new public API shape.
diff --git a/changelog.d/16468.misc b/changelog.d/16468.misc
deleted file mode 100644
index 93ceaeafc9..0000000000
--- a/changelog.d/16468.misc
+++ /dev/null
@@ -1 +0,0 @@
-Improve type hints.
diff --git a/changelog.d/16469.misc b/changelog.d/16469.misc
deleted file mode 100644
index 93ceaeafc9..0000000000
--- a/changelog.d/16469.misc
+++ /dev/null
@@ -1 +0,0 @@
-Improve type hints.
diff --git a/changelog.d/16477.doc b/changelog.d/16477.doc
deleted file mode 100644
index ef66e5d305..0000000000
--- a/changelog.d/16477.doc
+++ /dev/null
@@ -1 +0,0 @@
-Fix a typo in the sql for [useful SQL for admins document](https://matrix-org.github.io/synapse/latest/usage/administration/useful_sql_for_admins.html).
diff --git a/changelog.d/16488.misc b/changelog.d/16488.misc
deleted file mode 100644
index 9e70e45b22..0000000000
--- a/changelog.d/16488.misc
+++ /dev/null
@@ -1 +0,0 @@
-Clean up logging on event persister endpoints.
diff --git a/changelog.d/16491.misc b/changelog.d/16491.misc
deleted file mode 100644
index 70b5771373..0000000000
--- a/changelog.d/16491.misc
+++ /dev/null
@@ -1 +0,0 @@
-Remove useless async job to delete device messages on sync, since we only deliver (and hence delete) up to 100 device messages at a time.
diff --git a/changelog.d/16506.bugfix b/changelog.d/16506.bugfix
deleted file mode 100644
index a2c7e82b9e..0000000000
--- a/changelog.d/16506.bugfix
+++ /dev/null
@@ -1 +0,0 @@
-Fix a bug introduced in Synapse 1.59.0 where servers would be incorrectly marked as available when a request resulted in an error.
diff --git a/changelog.d/16507.misc b/changelog.d/16507.misc
deleted file mode 100644
index 93ceaeafc9..0000000000
--- a/changelog.d/16507.misc
+++ /dev/null
@@ -1 +0,0 @@
-Improve type hints.
diff --git a/debian/changelog b/debian/changelog
index 57479ca8e5..979d5facfa 100644
--- a/debian/changelog
+++ b/debian/changelog
@@ -1,3 +1,9 @@
+matrix-synapse-py3 (1.95.0~rc1) stable; urgency=medium
+
+  * New synapse release 1.95.0rc1.
+
+ -- Synapse Packaging team <packages@matrix.org>  Tue, 17 Oct 2023 15:50:17 +0000
+
 matrix-synapse-py3 (1.94.0) stable; urgency=medium
 
   * New Synapse release 1.94.0.
diff --git a/pyproject.toml b/pyproject.toml
index 0831510890..498b663bae 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -96,7 +96,7 @@ module-name = "synapse.synapse_rust"
 
 [tool.poetry]
 name = "matrix-synapse"
-version = "1.94.0"
+version = "1.95.0rc1"
 description = "Homeserver for the Matrix decentralised comms protocol"
 authors = ["Matrix.org Team and Contributors <packages@matrix.org>"]
 license = "Apache-2.0"