diff --git a/RELEASES.md b/RELEASES.md
index fec7824..97067a0 100644
--- a/RELEASES.md
+++ b/RELEASES.md
@@ -5,6 +5,33 @@
 fixed.  The version numbering adheres to the
 [semantic versioning](https://semver.org/) scheme.
 
+## Release 3.4.0 - 24/05/2022
+
+**Main feature changes:**
+
+* Support hosting of third party system configuration files in ethosu/config_files/*
+  * New configs can be contributed by following the information in OPTIONS.md
+* Upgrade TensorFlow Lite support to version 2.8
+* Ethos-U65 performance optimisations
+* Improvements to HillClimb tensor allocator
+* Add mypy support to pre-commit checks
+* General bug fixes to functionality and improve stability
+* Lower Python requirement to Python 3.7 for greater compatibility with other tools
+
+**Interface changes:**
+
+* Addition of CLI options:
+  * `--list-config-files`, `--verbose-performance`, `--hillclimb-max-iterations`
+
+**Reported defect fixes:**
+
+* Splitting into multiple Ethos-U Custom operators (MLCE-800)
+* Layer-wise performance information (MLCE-759)
+* Unable to find a valid block config (MLCE-776)
+* LeakyReLU does not support negative alpha values (MLCE-817)
+* Command stream disassembly does not contain address (MLCE-823)
+* FULLY_CONNECTED does not implicitly reshape greather than rank-2 input tensor (MLCE-691)
+
 ## Release 3.3.0 - 25/02/2022
 
 **Main feature changes:**
diff --git a/SUPPORTED_OPS.md b/SUPPORTED_OPS.md
index de0adf9..3e76670 100644
--- a/SUPPORTED_OPS.md
+++ b/SUPPORTED_OPS.md
@@ -1,7 +1,7 @@
 # Supported Ops
 
 This file was automatically generated by Vela using the `--supported-ops-report` parameter.  
-Vela version: `3.3.0`
+Vela version: `3.4.0`
 
 This file complies with
 [**Gitiles Markdown syntax**](https://github.com/google/gitiles/blob/master/Documentation/markdown.md)
@@ -179,7 +179,7 @@
 
 - At least one Input's shape must match the OFM's shape
 - IFM and OFM data types must match
-- Alpha must not be negative
+- Alpha only allowed to be negative if IFM is int8 or uint8
 - Batch size must be 1 for Input tensors with more than 2 dimensions
 
 ### TFLite MAXIMUM Constraints
@@ -336,4 +336,4 @@
 - Stride values for both width and height must be 2
 - SAME padding: OFM dimensions must equal IFM dimensions multiplied by stride
 - VALID padding: OFM dimensions must equal IFM dimensions multiplied by stride,  
-                  minus difference between kernel size and stride
+        minus difference between kernel size and stride
diff --git a/setup.py b/setup.py
index 6036446..42991c2 100644
--- a/setup.py
+++ b/setup.py
@@ -40,7 +40,7 @@
 this_directory = os.path.abspath(os.path.dirname(__file__))
 with open(os.path.join(this_directory, "README.md"), encoding="utf-8") as f:
     long_description = f.read()
-    tag = "3.3.0"
+    tag = "3.4.0"
     url = f"https://review.mlplatform.org/plugins/gitiles/ml/ethos-u/ethos-u-vela/+/refs/tags/{tag}/"
     # Find all markdown links that match the format:  [text](link)
     for match, link in re.findall(r"(\[.+?\]\((.+?)\))", long_description):