diff --git a/setup.py b/setup.py
index f1b0dac5a287c7570892e2c1e132d60666556aa2..5dca2b737d065d32a736f38228906c46170547be 100644
--- a/setup.py
+++ b/setup.py
@@ -57,7 +57,7 @@ def readfile(filename):
     return filecontents
 
 
-VERSION = '0.4.5'
+VERSION = '0.5.0'
 version_file = write_version_file(VERSION)
 long_description = get_long_description()