diff --git a/CHANGELOG.md b/CHANGELOG.md
index bb86770..af3ef16 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -2,6 +2,11 @@
 
 All notable changes to this project will be documented in this file.
 
+## [0.5.0] - 2024-02-02
+
+- Add HAP/detoxify module to Python TrustyAI ([#197](https://github.com/trustyai-explainability/trustyai-explainability-python/pull/197)) 
+- Update CI Ubuntu version from 20.04 to 22.04 ([#199](https://github.com/trustyai-explainability/trustyai-explainability-python/pull/199)) 
+
 ## [0.4.0] - 2024-01-15
 
 - feat: Publish using PyPi Trusted Providers (#[183](https://github.com/trustyai-explainability/trustyai-explainability-python/pull/183))
diff --git a/pyproject.toml b/pyproject.toml
index ad224e2..ca8c06c 100644
--- a/pyproject.toml
+++ b/pyproject.toml
@@ -1,6 +1,6 @@
 [project]
 name = "trustyai"
-version = "0.4.0"
+version = "0.5.0"
 description = "Python bindings to the TrustyAI explainability library."
 authors = [{ name = "Rui Vieira", email = "rui@redhat.com" }]
 license = { text = "Apache License Version 2.0" }
@@ -11,7 +11,7 @@ keywords = ["trustyai", "xai", "explainability", "ml"]
 
 classifiers = [
     "License :: OSI Approved :: Apache Software License",
-    "Development Status :: 3 - Alpha",
+    "Development Status :: 4 - Beta",
     "Intended Audience :: Developers",
     "Intended Audience :: Science/Research",
     "Programming Language :: Java",
diff --git a/src/trustyai/version.py b/src/trustyai/version.py
index fda4d8b..5e53b65 100644
--- a/src/trustyai/version.py
+++ b/src/trustyai/version.py
@@ -1,2 +1,2 @@
 """TrustyAI version"""
-__version__ = "0.4.0"
+__version__ = "0.5.0"