diff --git a/Makefile b/Makefile
index 7f52a79b9..ccd8be635 100644
--- a/Makefile
+++ b/Makefile
@@ -2,7 +2,10 @@
 # Makefile for Deluge
 #
 
-PREFIX = "/usr"
+VERSION ?= 0.5.1
+
+PREFIX ?= /usr
+
 
 all:
 	python setup.py build
diff --git a/setup.py b/setup.py
index 13f0cf8c1..6ce477e52 100644
--- a/setup.py
+++ b/setup.py
@@ -59,7 +59,7 @@ python_version = platform.python_version()[0:3]
 
 NAME		= "deluge"
 FULLNAME	= "Deluge BitTorrent Client"
-VERSION		= "0.5.0"
+VERSION		= "0.5.1"
 AUTHOR		= "Zach Tibbitts, Alon Zakai, Marcos Pinto"
 EMAIL		= "zach@collegegeek.org, kripkensteiner@gmail.com, marcospinto@dipconsultants.com"
 DESCRIPTION	= "A bittorrent client written in PyGTK"