diff --git a/CHANGELOG.md b/CHANGELOG.md
index 869cc02..24fca20 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,6 +1,9 @@
 Changelog
 =========
 
+0.5.0
+-----
+
 0.4.0
 -----
 * Rails 4 rc2
diff --git a/VERSION b/VERSION
index 1d0ba9e..8f0916f 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-0.4.0
+0.5.0