diff --git a/cmd/lncli/main.go b/cmd/lncli/main.go
index 60c098c5..d67095ef 100644
--- a/cmd/lncli/main.go
+++ b/cmd/lncli/main.go
@@ -205,7 +205,7 @@ func extractPathArgs(ctx *cli.Context) (string, string, error) {
 func main() {
 	app := cli.NewApp()
 	app.Name = "lncli"
-	app.Version = fmt.Sprintf("%s commit=%s", "0.4.2", Commit)
+	app.Version = fmt.Sprintf("%s commit=%s", "0.5", Commit)
 	app.Usage = "control plane for your Lightning Network Daemon (lnd)"
 	app.Flags = []cli.Flag{
 		cli.StringFlag{
diff --git a/version.go b/version.go
index 09811b01..69c6cc43 100644
--- a/version.go
+++ b/version.go
@@ -18,8 +18,8 @@ const semanticAlphabet = "0123456789ABCDEFGHIJKLMNOPQRSTUVWXYZabcdefghijklmnopqr
 // versioning 2.0.0 spec (http://semver.org/).
 const (
 	appMajor uint = 0
-	appMinor uint = 4
-	appPatch uint = 2
+	appMinor uint = 5
+	appPatch uint = 0
 
 	// appPreRelease MUST only contain characters from semanticAlphabet
 	// per the semantic versioning spec.