diff --git a/setup.py b/setup.py
index 6b1c132..9ef6df2 100644
--- a/setup.py
+++ b/setup.py
@@ -37,7 +37,7 @@
 
 setup(
     name='hio',
-    version='0.4.9',  #  also change in src/hio/__init__.py
+    version='0.5.0',  #  also change in src/hio/__init__.py
     license='Apache Software License 2.0',
     description='Hierarchical Concurrency with Async IO',
     long_description=("HIO Hierarchical Concurrency and Asynchronous IO Library. "
diff --git a/src/hio/__init__.py b/src/hio/__init__.py
index 9adcaaa..cc40053 100644
--- a/src/hio/__init__.py
+++ b/src/hio/__init__.py
@@ -3,6 +3,6 @@
 hio package
 """
 
-__version__ = '0.4.9'  # also change in setup.py
+__version__ = '0.5.0'  # also change in setup.py
 
 from .hioing import Mixin, HioError, ValidationError, VersionError