diff --git a/NEWS b/NEWS
index b8335a4..fc99c1a 100644
--- a/NEWS
+++ b/NEWS
@@ -1,6 +1,31 @@
 This file lists notable changes in each release. For the full history of all
 changes, see ChangeLog.
 
+2012-12-03: v0.5.0 release
+
+* Drivers:
+  - New VFS300/VFS301 driver
+  - New AES2550/AES2810 drivers
+  - New AES1660 driver
+  - New AES2660 driver
+  - New DigitalPersona URU4500 driver
+  - Avoid empty capture and improve image contrast in the
+  AES2501 and AES2550 drivers
+  - Update upektc driver, add support for Eikon Touch 300
+  - Fix UrU4000 image capture on ARM
+
+* Library:
+  - Fix global variable collisions with libusb and other system headers
+  - Fix possible crash in NBIS image processing with some fingerprints
+
+* Udev rules:
+  - Fix power control path for newer kernels
+  - Move udev rules to the correct directory
+  - Don't print duplicated udev rules
+  - Include udev rules in the tarball
+  - Allow disabling of udev rules for cross-compiling
+  - Add driver names in the generated rules
+
 2011-04-18: v0.4.0 release
  * Add support for Validity VFS101 (USB ID 138a:0001)
  * Fix crasher when resizing a fingerprint image
diff --git a/configure.ac b/configure.ac
index 56b42b6..3c779f4 100644
--- a/configure.ac
+++ b/configure.ac
@@ -1,4 +1,4 @@
-AC_INIT([libfprint], [0.4.0])
+AC_INIT([libfprint], [0.5.0])
 AM_INIT_AUTOMAKE([1.11 no-dist-gzip dist-xz check-news])
 AC_CONFIG_MACRO_DIR([m4])
 AC_CONFIG_SRCDIR([libfprint/core.c])