diff --git a/CHANGELOG.md b/CHANGELOG.md
index 055670d0d..5ed39ee07 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,18 @@
 # Changelog
 
+## 0.28.1
+
+**Release date:** 2022-12-22
+
+This prerelease sets the default value for the `--graceful-shutdown-timeout` to
+match the default value we set in the Deployment for
+`terminationGracePeriodSeconds` which is 600s. This should fix handling graceful
+shutdown correctly.
+
+Fixes:
+- Align `graceful-shutdown-timeout` with `terminationGracePeriodSeconds` 
+  [#584](https://github.com/fluxcd/helm-controller/pull/584)
+
 ## 0.28.0
 
 **Release date:** 2022-12-20
diff --git a/config/manager/kustomization.yaml b/config/manager/kustomization.yaml
index ace1d5fb2..a86d76878 100644
--- a/config/manager/kustomization.yaml
+++ b/config/manager/kustomization.yaml
@@ -5,4 +5,4 @@ resources:
 images:
   - name: fluxcd/helm-controller
     newName: fluxcd/helm-controller
-    newTag: v0.28.0
+    newTag: v0.28.1
diff --git a/go.mod b/go.mod
index 10be9d883..6a9dcf45c 100644
--- a/go.mod
+++ b/go.mod
@@ -5,7 +5,7 @@ go 1.18
 replace github.com/fluxcd/helm-controller/api => ./api
 
 require (
-	github.com/fluxcd/helm-controller/api v0.28.0
+	github.com/fluxcd/helm-controller/api v0.28.1
 	github.com/fluxcd/pkg/apis/acl v0.1.0
 	github.com/fluxcd/pkg/apis/event v0.2.0
 	github.com/fluxcd/pkg/apis/kustomize v0.7.0