diff --git a/CHANGELOG.md b/CHANGELOG.md
index c9e05cc63..c16f2b42a 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,8 @@
 # Changelog
 
+## 2024-01-05
+- [PI-158] Generate Product ID
+
 ## 2024-01-02
 - [PI-129] Postman collection from local tests
 - [PI-165] AWS environments
diff --git a/VERSION b/VERSION
index 591819d1d..f4ab21d28 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-2024.01.02
+2024.01.05
diff --git a/changelog/2024-01-05.md b/changelog/2024-01-05.md
new file mode 100644
index 000000000..90c2f2e61
--- /dev/null
+++ b/changelog/2024-01-05.md
@@ -0,0 +1 @@
+- [PI-158] Generate Product ID
diff --git a/pyproject.toml b/pyproject.toml
index d7ea4092c..29a5d2530 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [tool.poetry]
 name = "connecting-party-manager"
-version = "2024.01.02"
+version = "2024.01.05"
 description = "Repository for the Connecting Party Manager API and related services"
 authors = ["NHS England"]
 license = "LICENSE.md"