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+# Release v0.33.0
+
+## Feature Highlights
+
+### Unified CPU and Memory Allocation Management
+
+Since version 0.31.0, Cozystack introduced a single-point-of-truth configuration variable `cpu-allocation-ratio`,
+making CPU resource requests and limits uniform in Virtual Machines managed by KubeVirt.
+The new release 0.33.0 introduces `memory-allocation-ratio` and expands both variables to all managed applications and tenant resource quotas.
+
+Resource presets also respect the allocation ratios and behave in the same way as explicit resource definitions.
+The new resource definition format is concise and simple for platform users.
+
+```yaml
+# resource definition in the configuration
+resources:
+  cpu: <defined cpu value>
+  memory: <defined memory value>
+```
+
+It results in Kubernetes resource requests and limits, based on defined values and the universal allocation ratios:
+
+```yaml
+# actual requests and limits, provided to the application
+resources:
+  limits:
+    cpu: <defined cpu value>
+    memory: <defined memory value>
+  requests:
+    cpu: <defined cpu value / cpu-allocation-ratio>
+    memory: <defined memory value / memory-allocation-ratio>
+```
+
+When updating from earlier Cozystack versions, resource configuration in managed applications will be automatically migrated to the new format.
+
+### Backing up and Restoring Data in Tenant Kubernetes
+
+One of the main features of the release is backup capability for PVCs in tenant Kubernetes clusters.
+It enables platform and tenant administrators to back up and restore data used by services in the tenant clusters.
+
+This new functionality in Cozystack is powered by [Velero](https://velero.io/) and needs an external S3-compatible storage.
+
+## Support for NFS Storage
+
+Cozystack now supports using NFS shared storage with a new optional system module.
+See the documentation: https://cozystack.io/docs/operations/storage/nfs/.
+
 ## Features and Improvements
 
 * [kubernetes] Enable PVC backups in tenant Kubernetes clusters, powered by [Velero](https://velero.io/). (@klinch0 in https://github.com/cozystack/cozystack/pull/1132)
-* [nfs-driver] Enable NFS support by introducing a new optional system module `nfs-driver`. See the documentation: https://cozystack.io/docs/operations/storage/nfs/. (@kvaps in https://github.com/cozystack/cozystack/pull/1133)
+* [nfs-driver] Enable NFS support by introducing a new optional system module `nfs-driver`.  (@kvaps in https://github.com/cozystack/cozystack/pull/1133)
 * [virtual-machine] Configure CPU sockets available to VMs with the `resources.cpu.sockets` configuration value. (@klinch0 in https://github.com/cozystack/cozystack/pull/1131)
 * [virtual-machine] Add support for using pre-imported "golden image" disks for virtual machines, enabling faster provisioning by referencing existing images instead of downloading via HTTP. (@gwynbleidd2106 in https://github.com/cozystack/cozystack/pull/1112)
 * [kubernetes] Add an option to expose the Ingress-NGINX controller in tenant Kubernetes cluster via LoadBalancer. New configuration value `exposeMethod` offers a choice of `Proxied` and `LoadBalancer`. (@kvaps in https://github.com/cozystack/cozystack/pull/1114)