diff --git a/setup.py b/setup.py
index 80ab62f41..9fdcea140 100644
--- a/setup.py
+++ b/setup.py
@@ -29,6 +29,9 @@ import msgfmt
 pythonVersion = platform.python_version()[0:3]
 
 
+APP_VERSION = "0.4.99.0"
+
+
 
 #
 # NOTE: The following "hack" removes the -g and -Wstrict-prototypes
@@ -241,7 +244,7 @@ data = [('share/deluge/glade',  glob.glob('glade/*.glade')),
 for plugin in glob.glob('plugins/*'):
 	data.append( ('share/deluge/' + plugin, glob.glob(plugin + '/*')) )
 
-setup(name="deluge", fullname="Deluge BitTorrent Client", version="0.4.90.3",
+setup(name="deluge", fullname="Deluge BitTorrent Client", version=APP_VERSION,
 	author="Zach Tibbitts, Alon Zakai",
 	author_email="zach@collegegeek.org, kripkensteiner@gmail.com",
 	description="A bittorrent client written in PyGTK",
diff --git a/src/dcommon.py b/src/dcommon.py
index e4c38e6ef..6bcc7fb9c 100644
--- a/src/dcommon.py
+++ b/src/dcommon.py
@@ -24,7 +24,7 @@ import xdg, xdg.BaseDirectory
 import gettext
 
 PROGRAM_NAME = "Deluge"
-PROGRAM_VERSION = "0.4.90.3"
+PROGRAM_VERSION = "0.5"
 
 CONFIG_DIR = xdg.BaseDirectory.save_config_path('deluge')
 
diff --git a/src/delugegtk.py b/src/delugegtk.py
index d187332f2..7245c7719 100644
--- a/src/delugegtk.py
+++ b/src/delugegtk.py
@@ -52,7 +52,7 @@ class DelugeGTK:
 			f.close()
 		#Start the Deluge Manager:
 		p = "DE"
-		v = "0490"
+		v = "0500"
 		s = "%s %s"%(dcommon.PROGRAM_NAME, dcommon.PROGRAM_VERSION)
 		try:
 			self.manager = deluge.Manager(p, v, s, dcommon.CONFIG_DIR)