diff --git a/setup.py b/setup.py
index 11fb5ee62..9ba328dd0 100644
--- a/setup.py
+++ b/setup.py
@@ -30,7 +30,7 @@ pythonVersion = platform.python_version()[0:3]
 
 NAME		= "deluge"
 FULLNAME	= "Deluge BitTorrent Client"
-VERSION		= "0.4.99.2"
+VERSION		= "0.5.0"
 AUTHOR		= "Zach Tibbitts, Alon Zakai"
 EMAIL		= "zach@collegegeek.org, kripkensteiner@gmail.com"
 DESCRIPTION	= "A bittorrent client written in PyGTK"