The Joomla Project is pleased to announce the immediate availability of Joomla 1.7.4. This is a security release.
Note that most users should update their sites to version 2.5.0 instead, which is now released. Version 1.7.4 is only intended for those users who for some reason are unable to update to version 2.5.0. Version 1.7 will reach end of life on 24 February 2012.
We are familiar with the implementation of the upgrade and are currently upgrading multiple sites CONTACT US fora free proposal to update your site.