diff --git a/zulip/zulip/__init__.py b/zulip/zulip/__init__.py
index 3707fe2..ec64ddb 100644
--- a/zulip/zulip/__init__.py
+++ b/zulip/zulip/__init__.py
@@ -42,7 +42,7 @@ import logging
 import six
 from typing import Any, Callable, Dict, Iterable, IO, List, Mapping, Optional, Text, Tuple, Union
 
-__version__ = "0.4.7"
+__version__ = "0.5.0"
 
 logger = logging.getLogger(__name__)
 
diff --git a/zulip_bots/setup.py b/zulip_bots/setup.py
old mode 100755
new mode 100644
index 315c5d6..3461c3b
--- a/zulip_bots/setup.py
+++ b/zulip_bots/setup.py
@@ -10,7 +10,7 @@ import subprocess
 if False:
     from typing import Any, Dict, Optional
 
-ZULIP_BOTS_VERSION = "0.4.7"
+ZULIP_BOTS_VERSION = "0.5.0"
 IS_PYPA_PACKAGE = False
 
 
diff --git a/zulip_botserver/setup.py b/zulip_botserver/setup.py
index 5168e82..94f142f 100644
--- a/zulip_botserver/setup.py
+++ b/zulip_botserver/setup.py
@@ -7,7 +7,7 @@ import sys
 if False:
     from typing import Any, Dict, Optional
 
-ZULIP_BOTSERVER_VERSION = "0.4.7"
+ZULIP_BOTSERVER_VERSION = "0.5.0"
 
 # We should be installable with either setuptools or distutils.
 package_info = dict(