diff --git a/CMakeLists.txt b/CMakeLists.txt
index 7be7254..b3db8f0 100644
--- a/CMakeLists.txt
+++ b/CMakeLists.txt
@@ -34,8 +34,8 @@ endif (CMAKE_BUILD_TYPE STREQUAL "Release")
 
 # The version number.
 set (HDRMERGE_VERSION_MAJOR 0)
-set (HDRMERGE_VERSION_MINOR 4)
-set (HDRMERGE_VERSION_REV 5)
+set (HDRMERGE_VERSION_MINOR 5)
+set (HDRMERGE_VERSION_REV 0)
 set (HDRMERGE_VERSION ${HDRMERGE_VERSION_MAJOR}.${HDRMERGE_VERSION_MINOR}.${HDRMERGE_VERSION_REV})
 
 # configure a header file to pass some of the CMake settings
diff --git a/README.md b/README.md
index 8f1b08c..fa69dea 100644
--- a/README.md
+++ b/README.md
@@ -62,6 +62,15 @@ If you want to tone-map an image resulting from HDRMerge with a program like Lum
 
 # Feature List
 
+### v0.5.0:
+
+* First Mac OS X build! Thanks to Philip Ries for his help.
+* Several bug fixes:
+  * Fix dealing with images with non-ANSI file names.
+  * Calculate response function with non-linear behavior.
+  * Fix file locking issues by transfering Exif tags in memory.
+  * Correctly calculate the response function of very dark images.
+
 ### v0.4.5:
 
 * Better compatibility with other programs, by producing a DNG file that maintains the original layout: frame and active area sizes, black and white levels, etc. *Note that, if you use RawTherapee, you need v4.1.23 or higher to open these files.*
@@ -76,7 +85,7 @@ If you want to tone-map an image resulting from HDRMerge with a program like Lum
 * Better support for more camera models.
 * Better rendering of the embedded preview image.
 * Change the edit brush radius with Alt+Mouse wheel.
-* Several bugfixes.
+* Several bug fixes.
   * The original embedded preview is not included in the output anymore.
   * Fixed some glitches with the edit tools.