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diff --git a/NEWS b/NEWS
index f5d15b2..b8ecd03 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,14 @@
+Version 0.3.8
+
+  * Escape # in the second expansion in the message function. The
+    double-escaping of # in build rules is no longer necessary.
+
+  * New subsystem, meta, that is used for building other build
+    systems. Currently supported: autoconf, automake, VC++ 9.0,
+    VC++ 10.0, and VC++ tests.
+
+  * New subsystem, dist, that is used for preparing distributions.
+
 Version 0.3.7
 
   * Do not treat files with relative paths as generated.