diff --git a/CHANGELOG.md b/CHANGELOG.md
index e9268481c05..9401ee0093f 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1166,6 +1166,9 @@ JSON API clients should tolerate `null` values for such fields, and treat `null`
 
 * Local volume source paths that are directories and not mount points fail to unmount.  A fix is in process ([#48331](https://github.com/kubernetes/kubernetes/issues/48331)).
 
+* Services of type LoadBalancer (on GCE/GKE) that have static IP addresses will cause the Service Controller to panic and thereby causing the kube-controller-manager to crash loop.
+([#48848](https://github.com/kubernetes/kubernetes/issues/48848))
+
 ## **Deprecations**
 
 ### Cluster provisioning scripts