There are so called point releases for LTS versions of Ubuntu. 10.04.3 for instance.
What are those point releases releases about?
If you are familiar with the way Microsoft Windows manages its versions, you can relate point releases to Service packs that are released after a while when the product is released to the general consumption.
The basic idea for having point releases in LTS versions is to ensure that the LTS version works on newer hardware and doesn't necessary have to download a huge amount of updates when freshly installed.
The point release essentially contains the bug fixes the version has gone since it was released to the public, which includes security fixes, package updates, translation packs updates, etc.
You can read Mark Shuttleworth's blog, where he talks about the point releases of 8.04. An excerpt from his blog that is relevant:
Point releases are specific for LTS (Long Term Supported) versions of Ubuntu. Because these versions get 3 years of support (5 years for servers), the changes between the initial release image (10.04 for instance) and the current packages grow huge.
To quote https://wiki.ubuntu.com/LTS:
Each point release is merely a snapshot of updated packages in the LTS version at that time which includes security updates and bug fixes.
In addition to all the answers given here, I'm adding some info about how to see the milestones for the next point release so that, you can be sure whether your problem (if you have any) with your LTS release is going to be fixed there or not. It's also helpful for tracking bugs and helping Ubuntu development by informing about existing bugs
To see the milestone for the next release
You can then click on the bug link and participate on the bug tracking. More information on tracking bugs and reporting is in this question:
The point releases are new CD images including all the latest packages from
These will support newer hardware than the original lucid CDs, and save some download time + bandwidth for updates. So, if you find yourself downloading and burning a Lucid ISO, grab the latest point release. Also, if 10.04 won't install on a new machine, try the latest point release.
If you already have Ubuntu 10.04 installed, the point releases probably aren't of any interest. If you install updates, you're already running everything that the latest point release provides.
You can see thorough description about Ubuntu 12.04 maintenance releases (applies to other version of Ubuntu) in the following link:
Point releases are just the result of merging all the changes that has been made since the last point release or original release of the distribution.
They are the equivalent of the Service Packs of Microsoft in the Windows World
Ie : Ubuntu 12.04 went out in april 2012 the 12.04.1 wen out in august and had 186 fix included since 12.04 (see here : https://launchpad.net/ubuntu/+milestone/ubuntu-12.04.1)
Watch out, 186 fix is not 186 patches or packages.
One fix is the answer to a problem witch can include more than one package.
Much of the general background on Ubuntu point releases for LTS support is covered in this Ask Ubuntu question. What follows is some additional details in regards to the 12.04.2 release coming up next month.
Excerpt from ubuntu-devel mailing list as of 11.01.2013:
This would put the new release date on 14 Feb 2013. No other dates would change (i.e. freezes etc.), we are just using the extra two weeks for testing and possible bug fixing for identified issues.
According to the schedule, there are 4 point releases to be expected within the 12.04 lifecycle. 12.04.2 is scheduled for release on 14 Feb 2013 and the last point release 12.04.4 is scheduled for January 24 2014.
What is a Point Release?
12.04.2 will provide users with a new kernel as well as a roll up of previous 12.04 package updates and security patches.
Goals (as outlined in the Ubuntu Point Release Process):
How often do these updates come out?
Currently, the schedule for 12.04 LTS point releases looks like this:
Are there upgrades to the kernel version?
Yes. 12.04.2 will be shipping with a backported Quantal kernel according to Launchpad. See here for some additional details. (The following is speculation on my part) The current Quantal kernel is 3.5.0-18 and will move towards a 3.8 kernel as release candidates are available. I am expecting 12.04 to follow suit, but I have not sussed out all of the details just yet.
Will the system perform better after a point release?
I believe that is the goal. ;-)