diff --git a/CHANGELOG.md b/CHANGELOG.md
index 9209ca2..16d602b 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -5,6 +5,15 @@ The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/),
 and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0.html).
 
 ## [Unreleased]
+- n/a
+
+## [0.4.0] - 2021-08-09
+
+### Changed
+- Queries for modulemd units reimplemented in more efficient way
+
+### Added
+- Partial usage of pubtools-pulplib client
 
 ## [0.3.1] - 2021-06-04
 
@@ -31,7 +40,8 @@ and this project adheres to [Semantic Versioning](https://semver.org/spec/v2.0.0
 - py26 compatibility issue on travis
 - rpm-py-installer requirement was made conditional  
 
-[Unreleased]: https://github.com/release-engineering/ubi-population-tool/compare/v0.3.1...HEAD
+[Unreleased]: https://github.com/release-engineering/ubi-population-tool/compare/v0.4.0...HEAD
+[0.4.0]: https://github.com/release-engineering/ubi-population-tool/compare/v0.3.1...0.4.0
 [0.3.1]: https://github.com/release-engineering/ubi-population-tool/compare/v0.3.0...0.3.1
 [0.3.0]: https://github.com/release-engineering/ubi-population-tool/compare/v0.2.0...0.3.0
 [0.2.0]: https://github.com/release-engineering/ubi-population-tool/compare/v0.1.19...v0.2.0 
diff --git a/setup.py b/setup.py
index 7319bc2..09e1ae8 100644
--- a/setup.py
+++ b/setup.py
@@ -21,7 +21,7 @@ def get_requirements():
 
 setup(
     name="ubi-population-tool",
-    version="0.3.1",
+    version="0.4.0",
     license="GNU General Public License",
     author="",
     author_email="",