diff --git a/CHANGELOG.md b/CHANGELOG.md
index 60585bd1..e3d65c2b 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,11 @@
+## v0.5.0, 27 March 2014
+*Additions*
+- Scope methods. Adds a module which can be mixed in to an ActiveRecord model to provide `.in_state` and `.not_in_state` query scopes.
+- Adds `Machine#after_initialize` hook (patch by [@att14](https://github.com/att14))
+
+*Fixes*
+- Added MongoidTransition to the autoload statements, fixing [#29](https://github.com/gocardless/statesman/issues/29) (patch by [@tomclose](https://github.com/tomclose))
+
 ## v0.4.0, 27 February 2014
 *Additions*
 - Adds after_commit flag to after_transition for callbacks to be executed after the transaction has been
diff --git a/lib/statesman/version.rb b/lib/statesman/version.rb
index 651cf780..406b5bac 100644
--- a/lib/statesman/version.rb
+++ b/lib/statesman/version.rb
@@ -1,3 +1,3 @@
 module Statesman
-  VERSION = "0.4.0"
+  VERSION = "0.5.0"
 end