Hi I have just updated to the latest version of AS v1.00 release.
However when trying to run newly created project i get this error:
Error:Execution failed f
This will be resolved if you grab the latest SDK with tools v24.0.2, which you can get here. This is actually a different problem from what was fixed in v24.0.1.
If you need fix yourself NOW and don't want to download a whole SDK, take a look at
https://code.google.com/p/android/issues/detail?id=82388#c33
Additionally, a future patch of Android Studio will also resolve this. Sorry for any inconvenience already caused, however.