diff --git a/NEWS b/NEWS
index 7f1d1fac..eacd4d6b 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,14 @@
+Version 0.5:
+	The CRC-32 checksum algorithm has been optimized with carryless
+	multiplication instructions for x86_64 (PCLMUL).  This speeds up gzip
+	compression and decompression.
+
+	Build fixes for certain platforms and compilers.
+
+	Added more test programs and scripts.
+
+	libdeflate is now entirely MIT-licensed.
+
 Version 0.4:
 	The Adler-32 checksum algorithm has been optimized with vector
 	instructions for x86_64 (SSE2 and AVX2) and ARM (NEON).  This speeds up
diff --git a/libdeflate.h b/libdeflate.h
index 80fc5d56..8c587b60 100644
--- a/libdeflate.h
+++ b/libdeflate.h
@@ -10,8 +10,8 @@ extern "C" {
 #endif
 
 #define LIBDEFLATE_VERSION_MAJOR	0
-#define LIBDEFLATE_VERSION_MINOR	4
-#define LIBDEFLATE_VERSION_STRING	"0.4"
+#define LIBDEFLATE_VERSION_MINOR	5
+#define LIBDEFLATE_VERSION_STRING	"0.5"
 
 #include <stddef.h>
 #include <stdint.h>