diff --git a/.bumpversion.cfg b/.bumpversion.cfg
index d12a56e2..1ca38264 100644
--- a/.bumpversion.cfg
+++ b/.bumpversion.cfg
@@ -1,5 +1,5 @@
 [bumpversion]
-current_version = 0.4.2
+current_version = 0.5.0
 commit = True
 
 [bumpversion:file:ibm_cloud_sdk_core/version.py]
diff --git a/ibm_cloud_sdk_core/version.py b/ibm_cloud_sdk_core/version.py
index a9873473..2b8877c5 100644
--- a/ibm_cloud_sdk_core/version.py
+++ b/ibm_cloud_sdk_core/version.py
@@ -1 +1 @@
-__version__ = '0.4.2'
+__version__ = '0.5.0'
diff --git a/setup.py b/setup.py
index 9c45b16d..334beeb2 100644
--- a/setup.py
+++ b/setup.py
@@ -19,7 +19,7 @@
 from setuptools import setup
 from setuptools.command.test import test as TestCommand
 
-__version__ = '0.4.2'
+__version__ = '0.5.0'
 
 if sys.argv[-1] == 'publish':
     # test server