diff --git a/CHANGELOG.md b/CHANGELOG.md
index 6a524eccf..429027b82 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -4,6 +4,14 @@ All notable changes to this project will be documented in this file.
 
 The format is based on [Keep a Changelog](https://keepachangelog.com/en/1.0.0/).
 
+## [0.47.0] - Aug 19, 2021
+
+### OVSDB-to-DDlog compiler update
+
+- Added `--intern-strings` option that causes all strings in generated OVSDB tables
+  to be emitted as 'istring'.  This reduces memory use and can aid performance in programs
+  that use strings heavily.  See PR #1056.
+
 ## [0.46.0] - Aug 18, 2021
 
 ### Optimizations
diff --git a/package.yaml b/package.yaml
index db8089d87..7dcfa3541 100644
--- a/package.yaml
+++ b/package.yaml
@@ -1,5 +1,5 @@
 name:                differential-datalog
-version:             0.46.0
+version:             0.47.0
 github:              "vmware/differential-datalog"
 license:             MIT
 author:              "Leonid Ryzhyk"
diff --git a/src/Language/DifferentialDatalog/Version.hs b/src/Language/DifferentialDatalog/Version.hs
index 443928a3e..ae9ab15c4 100644
--- a/src/Language/DifferentialDatalog/Version.hs
+++ b/src/Language/DifferentialDatalog/Version.hs
@@ -33,7 +33,7 @@ import Data.List
 
 -- Keep this in sync with the binary release version on github
 dDLOG_VERSION :: String
-dDLOG_VERSION = "v0.46.0"
+dDLOG_VERSION = "v0.47.0"
 
 gitInfoCwdTry :: Either String GitInfo
 gitInfoCwdTry = $$tGitInfoCwdTry