diff --git a/docs/source/conf.py b/docs/source/conf.py
index 7eee036..848a52b 100644
--- a/docs/source/conf.py
+++ b/docs/source/conf.py
@@ -60,9 +60,9 @@
 # built documents.
 #
 # The short X.Y version.
-version = '0.4.0'
+version = '0.5.0'
 # The full version, including alpha/beta/rc tags.
-release = '0.4.0'
+release = '0.5.0'
 
 # The language for content autogenerated by Sphinx. Refer to documentation
 # for a list of supported languages.
diff --git a/setup.py b/setup.py
index 1948fb6..4034808 100644
--- a/setup.py
+++ b/setup.py
@@ -8,7 +8,7 @@
     from distutils.core import setup
 
 
-__version__ = '0.4.0'
+__version__ = '0.5.0'
 
 with open(os.path.join(os.path.dirname(__file__), 'README.rst')) as readme:
     README = readme.read()