diff --git a/CHANGELOG.md b/CHANGELOG.md
index 0b9fcfb..6d914b9 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,40 @@
 # Changelog
 
+## 0.5.0 (2017-05-22)
+
+*   Feature / BC break: Replace `Factory` with simple `Client` constructor
+    (#85 by @clue)
+
+    The `Client` now accepts a required `LoopInterface` and an optional
+    `ConnectorInterface`. It will now create a default `Connector` if none
+    has been given.
+
+    ```php
+    // old
+    $dnsResolverFactory = new React\Dns\Resolver\Factory();
+    $dnsResolver = $dnsResolverFactory->createCached('8.8.8.8', $loop);
+    $factory = new React\HttpClient\Factory();
+    $client = $factory->create($loop, $dnsResolver);
+
+    // new
+    $client = new React\HttpClient\Client($loop);
+    ```
+
+*   Feature: `Request::close()` now cancels pending connection attempt
+    (#91 by @clue)
+
+*   Feature / BC break: Replace deprecated SocketClient with new Socket component
+    (#74, #84 and #88 by @clue)
+
+*   Feature / BC break: Consistent stream semantics and forward compatibility with upcoming Stream v1.0
+    (#90 by @clue)
+
+*   Feature: Forward compatibility with upcoming EventLoop v1.0 and v0.5
+    (#89 by @clue)
+
+*   Fix: Catch Guzzle parser exception
+    (#82 by @djagya)
+
 ## 0.4.17 (2017-03-20)
 
 * Improvement: Add PHPUnit to require-dev #75 @jsor
diff --git a/README.md b/README.md
index 703e9dd..1a01df7 100644
--- a/README.md
+++ b/README.md
@@ -2,7 +2,15 @@
 
 [![Build Status](https://secure.travis-ci.org/reactphp/http-client.png?branch=master)](http://travis-ci.org/reactphp/http-client) [![Code Climate](https://codeclimate.com/github/reactphp/http-client/badges/gpa.svg)](https://codeclimate.com/github/reactphp/http-client)
 
-Basic HTTP/1.0 client.
+Event-driven, streaming HTTP client for [ReactPHP](http://reactphp.org)
+
+**Table of Contents**
+
+* [Basic usage](#basic-usage)
+  * [Example](#example)
+* [Install](#install)
+* [Tests](#tests)
+* [License](#license)
 
 ## Basic usage
 
@@ -70,11 +78,18 @@ $loop->run();
 
 See also the [examples](examples).
 
-## TODO
+## Install
+
+The recommended way to install this library is [through Composer](http://getcomposer.org).
+[New to Composer?](http://getcomposer.org/doc/00-intro.md)
 
-* gzip content encoding
-* keep-alive connections
-* following redirections
+This will install the latest supported version:
+
+```bash
+$ composer require react/http-client:^0.5
+```
+
+More details about version upgrades can be found in the [CHANGELOG](CHANGELOG.md).
 
 ## Tests
 
@@ -90,3 +105,7 @@ To run the test suite, go to the project root and run:
 ```bash
 $ php vendor/bin/phpunit
 ```
+
+## License
+
+MIT, see [LICENSE file](LICENSE).
diff --git a/composer.json b/composer.json
index 929e563..d9751db 100644
--- a/composer.json
+++ b/composer.json
@@ -1,6 +1,6 @@
 {
     "name": "react/http-client",
-    "description": "Asynchronous HTTP client library.",
+    "description": "Event-driven, streaming HTTP client for ReactPHP",
     "keywords": ["http"],
     "license": "MIT",
     "require": {