diff --git a/CMakeLists.txt b/CMakeLists.txt
index 25b54695..a991c617 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -15,7 +15,7 @@ list(APPEND CMAKE_MODULE_PATH ${CMAKE_SOURCE_DIR}/cmake )
 #
 set(GETTEXT_PACKAGE "geary")
 set(RELEASE_NAME "Lightweight email client for GNOME.")
-set(VERSION "0.4.3+trunk")
+set(VERSION "0.5.0")
 set(VERSION_INFO "Release")
 set(LANGUAGE_SUPPORT_DIRECTORY ${CMAKE_INSTALL_PREFIX}/share/locale)
 
diff --git a/NEWS b/NEWS
index e8ff78fe..5f6e66d3 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,11 @@
+Geary 0.5.0 - 12 December 2013
+------------------------------
+
+  * Port to GtkApplication
+  * Use app menu instead of gear button menu, where available
+  * Miscellaneous bugfixes
+
+
 Geary 0.4.3 - 12 December 2013
 ------------------------------