diff --git a/.bumpversion.cfg b/.bumpversion.cfg
index 460661a..6460b48 100644
--- a/.bumpversion.cfg
+++ b/.bumpversion.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 0.4.27
+current_version = 0.5.0
 commit = True
 tag = True
 
diff --git a/README.md b/README.md
index 25044e3..4fe1c33 100644
--- a/README.md
+++ b/README.md
@@ -1,4 +1,4 @@
-# abp 0.4.27
+# abp 0.5.0
 Python port of Anders and Briegel' s [method](https://arxiv.org/abs/quant-ph/0504117) for fast simulation of Clifford circuits.
 
 ## Documentation
@@ -10,7 +10,7 @@ To install Sphinx on OSX, use `pip install sphinx`. If after doing so `make doc`
 It's easiest to install with `pip`:
 
 ```shell
-$ pip install --user abp==0.4.27
+$ pip install --user abp==0.5.0
 ```
 
 Or install from source: clone and install in `develop` mode:
diff --git a/doc/conf.py b/doc/conf.py
index 08f17e0..477252b 100644
--- a/doc/conf.py
+++ b/doc/conf.py
@@ -60,9 +60,9 @@ author = 'Pete Shadbolt'
 # built documents.
 #
 # The short X.Y version.
-version = '0.4.27'
+version = '0.5.0'
 # The full version, including alpha/beta/rc tags.
-release = '0.4.27'
+release = '0.5.0'
 
 # The language for content autogenerated by Sphinx. Refer to documentation
 # for a list of supported languages.
diff --git a/doc/index.rst b/doc/index.rst
index fb04dd7..bb7e4db 100644
--- a/doc/index.rst
+++ b/doc/index.rst
@@ -26,7 +26,7 @@ You can install from ``pip``:
 
 .. code-block:: bash
 
-   $ pip install --user abp==0.4.27
+   $ pip install --user abp==0.5.0
 
 Alternatively, clone from the `github repo <https://github.com/peteshadbolt/abp>`_ and run ``setup.py``:
 
diff --git a/setup.py b/setup.py
index 6ac1306..cda85f1 100755
--- a/setup.py
+++ b/setup.py
@@ -4,7 +4,7 @@ from os import path
 
 setup(
     name = "abp",
-    version = "0.4.27",
+    version = "0.5.0",
     packages = ["abp"],
     test_suite = "tests",
     author = "Pete Shadbolt",