diff --git a/.bumpversion.cfg b/.bumpversion.cfg
index 96806f9494..2149b39451 100644
--- a/.bumpversion.cfg
+++ b/.bumpversion.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 70.2.0
+current_version = 70.3.0
 commit = True
 tag = True
 
diff --git a/NEWS.rst b/NEWS.rst
index df3c50f6a2..565b1f4b80 100644
--- a/NEWS.rst
+++ b/NEWS.rst
@@ -1,3 +1,18 @@
+v70.3.0
+=======
+
+Features
+--------
+
+- Support for loading distutils from the standard library is now deprecated, including use of SETUPTOOLS_USE_DISTUTILS=stdlib and importing distutils before importing setuptools. (#4137)
+
+
+Bugfixes
+--------
+
+- Bugfix for building Cython extension on Windows (pypa/distutils#268).
+
+
 v70.2.0
 =======
 
diff --git a/newsfragments/+4571b0f4.bugfix.rst b/newsfragments/+4571b0f4.bugfix.rst
deleted file mode 100644
index 94c7cacdb7..0000000000
--- a/newsfragments/+4571b0f4.bugfix.rst
+++ /dev/null
@@ -1 +0,0 @@
-Bugfix for building Cython extension on Windows (pypa/distutils#268).
\ No newline at end of file
diff --git a/newsfragments/4137.feature.rst b/newsfragments/4137.feature.rst
deleted file mode 100644
index 89ca0cb758..0000000000
--- a/newsfragments/4137.feature.rst
+++ /dev/null
@@ -1 +0,0 @@
-Support for loading distutils from the standard library is now deprecated, including use of SETUPTOOLS_USE_DISTUTILS=stdlib and importing distutils before importing setuptools.
\ No newline at end of file
diff --git a/pyproject.toml b/pyproject.toml
index 00e7ee169f..2672b0d97c 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -5,7 +5,7 @@ backend-path = ["."]
 
 [project]
 name = "setuptools"
-version = "70.2.0"
+version = "70.3.0"
 authors = [
 	{ name = "Python Packaging Authority", email = "distutils-sig@python.org" },
 ]