diff --git a/ci/compose-uber-jar/gradle.properties b/ci/compose-uber-jar/gradle.properties
index cea28ff4016..d199ebcd4d3 100644
--- a/ci/compose-uber-jar/gradle.properties
+++ b/ci/compose-uber-jar/gradle.properties
@@ -1,3 +1,3 @@
 # __LATEST_COMPOSE_RELEASE_VERSION__
-compose.version=0.4.0-build182
+compose.version=0.4.0-build208
 kotlin.code.style=official
diff --git a/components/build.gradle.kts b/components/build.gradle.kts
index cf94a3dc09e..6ce623ed3ea 100644
--- a/components/build.gradle.kts
+++ b/components/build.gradle.kts
@@ -1,6 +1,6 @@
 buildscript {
     // __LATEST_COMPOSE_RELEASE_VERSION__
-    val composeVersion = System.getenv("COMPOSE_RELEASE_VERSION") ?: "0.4.0-build182"
+    val composeVersion = System.getenv("COMPOSE_RELEASE_VERSION") ?: "0.4.0-build208"
 
     repositories {
         google()
@@ -11,7 +11,7 @@ buildscript {
     dependencies {
         classpath("org.jetbrains.compose:compose-gradle-plugin:$composeVersion")
         // __KOTLIN_COMPOSE_VERSION__
-        classpath(kotlin("gradle-plugin", version = "1.4.32"))
+        classpath(kotlin("gradle-plugin", version = "1.5.0"))
     }
 }
 
diff --git a/examples/codeviewer/build.gradle.kts b/examples/codeviewer/build.gradle.kts
index 86b0c9b52a2..e7ba0120132 100644
--- a/examples/codeviewer/build.gradle.kts
+++ b/examples/codeviewer/build.gradle.kts
@@ -9,10 +9,10 @@ buildscript {
 
     dependencies {
         // __LATEST_COMPOSE_RELEASE_VERSION__
-        classpath("org.jetbrains.compose:compose-gradle-plugin:0.4.0-build182")
+        classpath("org.jetbrains.compose:compose-gradle-plugin:0.4.0-build208")
         classpath("com.android.tools.build:gradle:4.0.1")
          // __KOTLIN_COMPOSE_VERSION__
-        classpath(kotlin("gradle-plugin", version = "1.4.32"))
+        classpath(kotlin("gradle-plugin", version = "1.5.0"))
     }
 }
 
diff --git a/examples/falling_balls/build.gradle.kts b/examples/falling_balls/build.gradle.kts
index c88dc24fbfc..c65bee8d22d 100644
--- a/examples/falling_balls/build.gradle.kts
+++ b/examples/falling_balls/build.gradle.kts
@@ -4,9 +4,9 @@ import org.jetbrains.kotlin.gradle.tasks.KotlinCompile
 
 plugins {
     // __KOTLIN_COMPOSE_VERSION__
-    kotlin("jvm") version "1.4.32"
+    kotlin("jvm") version "1.5.0"
     // __LATEST_COMPOSE_RELEASE_VERSION__
-    id("org.jetbrains.compose") version "0.4.0-build182"
+    id("org.jetbrains.compose") version "0.4.0-build208"
 }
 
 group = "me.user"
diff --git a/examples/falling_balls_with_web/build.gradle.kts b/examples/falling_balls_with_web/build.gradle.kts
index 4572cc85af5..12bdaf5506f 100644
--- a/examples/falling_balls_with_web/build.gradle.kts
+++ b/examples/falling_balls_with_web/build.gradle.kts
@@ -2,7 +2,7 @@
 import org.jetbrains.compose.desktop.application.dsl.TargetFormat
 
 plugins {
-    id("org.jetbrains.kotlin.multiplatform") version "1.4.32"
+    id("org.jetbrains.kotlin.multiplatform") version "1.5.0"
     id("org.jetbrains.compose") version "0.0.0-web-dev-12"
 }
 
diff --git a/examples/imageviewer/build.gradle.kts b/examples/imageviewer/build.gradle.kts
index 5907fabb831..8798aa176cb 100755
--- a/examples/imageviewer/build.gradle.kts
+++ b/examples/imageviewer/build.gradle.kts
@@ -11,10 +11,10 @@ buildscript {
 
     dependencies {
         // __LATEST_COMPOSE_RELEASE_VERSION__
-        classpath("org.jetbrains.compose:compose-gradle-plugin:0.4.0-build182")
+        classpath("org.jetbrains.compose:compose-gradle-plugin:0.4.0-build208")
         classpath("com.android.tools.build:gradle:4.0.1")
         // __KOTLIN_COMPOSE_VERSION__
-        classpath(kotlin("gradle-plugin", version = "1.4.32"))
+        classpath(kotlin("gradle-plugin", version = "1.5.0"))
     }
 }
 
diff --git a/examples/intelliJPlugin/build.gradle.kts b/examples/intelliJPlugin/build.gradle.kts
index ebb727a2ca1..5abe4b6ed22 100644
--- a/examples/intelliJPlugin/build.gradle.kts
+++ b/examples/intelliJPlugin/build.gradle.kts
@@ -3,9 +3,9 @@ import org.jetbrains.compose.compose
 plugins {
     id("org.jetbrains.intellij") version "0.6.5"
     java
-    kotlin("jvm") version "1.4.32"
+    kotlin("jvm") version "1.5.0"
     // __LATEST_COMPOSE_RELEASE_VERSION__
-    id("org.jetbrains.compose") version "0.4.0-build182"
+    id("org.jetbrains.compose") version "0.4.0-build208"
 }
 
 group = "org.example"
diff --git a/examples/issues/build.gradle.kts b/examples/issues/build.gradle.kts
index 725a6fdcbf9..b808794f9a6 100644
--- a/examples/issues/build.gradle.kts
+++ b/examples/issues/build.gradle.kts
@@ -9,10 +9,10 @@ buildscript {
 
     dependencies {
         // __LATEST_COMPOSE_RELEASE_VERSION__
-        classpath("org.jetbrains.compose:compose-gradle-plugin:0.4.0-build182")
+        classpath("org.jetbrains.compose:compose-gradle-plugin:0.4.0-build208")
         classpath("com.android.tools.build:gradle:4.0.1")
         // __KOTLIN_COMPOSE_VERSION__
-        classpath(kotlin("gradle-plugin", version = "1.4.32"))
+        classpath(kotlin("gradle-plugin", version = "1.5.0"))
     }
 }
 
diff --git a/examples/widgetsgallery/build.gradle.kts b/examples/widgetsgallery/build.gradle.kts
index 012752a9d6c..981ecbe1c50 100644
--- a/examples/widgetsgallery/build.gradle.kts
+++ b/examples/widgetsgallery/build.gradle.kts
@@ -9,10 +9,10 @@ buildscript {
 
     dependencies {
         // __LATEST_COMPOSE_RELEASE_VERSION__
-        classpath("org.jetbrains.compose:compose-gradle-plugin:0.4.0-build182")
+        classpath("org.jetbrains.compose:compose-gradle-plugin:0.4.0-build208")
         classpath("com.android.tools.build:gradle:4.0.1")
         // __KOTLIN_COMPOSE_VERSION__
-        classpath(kotlin("gradle-plugin", version = "1.4.32"))
+        classpath(kotlin("gradle-plugin", version = "1.5.0"))
     }
 }
 
diff --git a/gradle-plugins/build.gradle.kts b/gradle-plugins/build.gradle.kts
index c2e73cc17b2..141aed6d40c 100644
--- a/gradle-plugins/build.gradle.kts
+++ b/gradle-plugins/build.gradle.kts
@@ -2,7 +2,7 @@ import com.gradle.publish.PluginBundleExtension
 
 plugins {
     // __KOTLIN_COMPOSE_VERSION__
-    kotlin("jvm") version "1.4.32" apply false
+    kotlin("jvm") version "1.5.0" apply false
     id("com.gradle.plugin-publish") version "0.10.1" apply false
     id("de.fuerstenau.buildconfig") version "1.1.8" apply false
 }
diff --git a/gradle-plugins/compose/src/test/kotlin/org/jetbrains/compose/test/TestKotlinVersion.kt b/gradle-plugins/compose/src/test/kotlin/org/jetbrains/compose/test/TestKotlinVersion.kt
index a5dfadaeadb..f59ca48f3fb 100644
--- a/gradle-plugins/compose/src/test/kotlin/org/jetbrains/compose/test/TestKotlinVersion.kt
+++ b/gradle-plugins/compose/src/test/kotlin/org/jetbrains/compose/test/TestKotlinVersion.kt
@@ -8,6 +8,6 @@ package org.jetbrains.compose.test
 @Suppress("EnumEntryName")
 enum class TestKotlinVersion(val versionString: String) {
     // __KOTLIN_COMPOSE_VERSION__
-    Default("1.4.32"),
+    Default("1.5.0"),
     V1_5_20_dev_3226("1.5.20-dev-3226")
 }
\ No newline at end of file
diff --git a/gradle-plugins/gradle.properties b/gradle-plugins/gradle.properties
index 1ae65a0fd78..2d00d5dab18 100644
--- a/gradle-plugins/gradle.properties
+++ b/gradle-plugins/gradle.properties
@@ -6,7 +6,7 @@ kotlin.code.style=official
 # unless overridden by COMPOSE_GRADLE_PLUGIN_COMPOSE_VERSION env var.
 #
 # __LATEST_COMPOSE_RELEASE_VERSION__
-compose.version=0.4.0-build182
+compose.version=0.4.0-build208
 compose.with.web=false
 
 # A version of Gradle plugin, that will be published,
diff --git a/idea-plugin/build.gradle.kts b/idea-plugin/build.gradle.kts
index 16d2cebcc54..4f5fada1c57 100644
--- a/idea-plugin/build.gradle.kts
+++ b/idea-plugin/build.gradle.kts
@@ -2,7 +2,7 @@ import org.jetbrains.kotlin.gradle.dsl.KotlinJvmCompile
 
 plugins {
     id("java")
-    id("org.jetbrains.kotlin.jvm") version "1.4.32"
+    id("org.jetbrains.kotlin.jvm") version "1.5.0"
     id("org.jetbrains.intellij") version "0.7.2"
     id("org.jetbrains.changelog") version "1.1.2"
 }
diff --git a/idea-plugin/examples/desktop-project/build.gradle.kts b/idea-plugin/examples/desktop-project/build.gradle.kts
index 7a7398e5b8d..ebf8e1949d0 100644
--- a/idea-plugin/examples/desktop-project/build.gradle.kts
+++ b/idea-plugin/examples/desktop-project/build.gradle.kts
@@ -2,7 +2,7 @@ import org.jetbrains.compose.compose
 
 plugins {
     // __KOTLIN_COMPOSE_VERSION__
-    kotlin("jvm") version "1.4.32"
+    kotlin("jvm") version "1.5.0"
     id("org.jetbrains.compose") version "0.4.0-idea-preview-build57"
 }
 
diff --git a/templates/desktop-template/build.gradle.kts b/templates/desktop-template/build.gradle.kts
index 73646731b0a..83a0db745e5 100644
--- a/templates/desktop-template/build.gradle.kts
+++ b/templates/desktop-template/build.gradle.kts
@@ -3,9 +3,9 @@ import org.jetbrains.compose.desktop.application.dsl.TargetFormat
 
 plugins {
     // __KOTLIN_COMPOSE_VERSION__
-    kotlin("jvm") version "1.4.32"
+    kotlin("jvm") version "1.5.0"
     // __LATEST_COMPOSE_RELEASE_VERSION__
-    id("org.jetbrains.compose") version (System.getenv("COMPOSE_TEMPLATE_COMPOSE_VERSION") ?: "0.4.0-build182")
+    id("org.jetbrains.compose") version (System.getenv("COMPOSE_TEMPLATE_COMPOSE_VERSION") ?: "0.4.0-build208")
 }
 
 repositories {
diff --git a/templates/desktop-template/build_and_run_from_cli_example.sh b/templates/desktop-template/build_and_run_from_cli_example.sh
index 94afd65e5b9..9b64e44c4f1 100644
--- a/templates/desktop-template/build_and_run_from_cli_example.sh
+++ b/templates/desktop-template/build_and_run_from_cli_example.sh
@@ -19,11 +19,11 @@ function mavenDep {
 }
 
 PLATFORM=macos-x64
-SKIKO_VERSION=0.2.13
+SKIKO_VERSION=0.2.33
 # __KOTLIN_COMPOSE_VERSION__
-KOTLIN_VERSION=1.4.30
+KOTLIN_VERSION=1.5.0
 # __LATEST_COMPOSE_RELEASE_VERSION__
-COMPOSE_VERSION=0.3.0
+COMPOSE_VERSION=0.4.0-build208
 COROUTINES_VERSION=1.3.6
 COLLECTIONS_VERSION=0.3
 SPACE_REPO="https://public.jetbrains.space/p/compose/packages/maven/"
diff --git a/templates/multiplatform-template/build.gradle.kts b/templates/multiplatform-template/build.gradle.kts
index 70b46e58ca7..e9317a5337b 100644
--- a/templates/multiplatform-template/build.gradle.kts
+++ b/templates/multiplatform-template/build.gradle.kts
@@ -1,6 +1,6 @@
 buildscript {
     // __LATEST_COMPOSE_RELEASE_VERSION__
-    val composeVersion = System.getenv("COMPOSE_TEMPLATE_COMPOSE_VERSION") ?: "0.4.0-build182"
+    val composeVersion = System.getenv("COMPOSE_TEMPLATE_COMPOSE_VERSION") ?: "0.4.0-build208"
 
     repositories {
         // TODO: remove after new build is published
@@ -14,7 +14,7 @@ buildscript {
         classpath("org.jetbrains.compose:compose-gradle-plugin:$composeVersion")
         classpath("com.android.tools.build:gradle:4.0.1")
         // __KOTLIN_COMPOSE_VERSION__
-        classpath(kotlin("gradle-plugin", version = "1.4.32"))
+        classpath(kotlin("gradle-plugin", version = "1.5.0"))
     }
 }
 
diff --git a/tools/replace.sh b/tools/replace.sh
index 7796b845608..5cddcfb48e3 100755
--- a/tools/replace.sh
+++ b/tools/replace.sh
@@ -1,11 +1,13 @@
 #!/bin/bash
 ROOT="$( cd "$( dirname "${BASH_SOURCE[0]}" )" >/dev/null 2>&1 && pwd )"/..
-COMPOSE_OLDVER=0.3.2
-COMPOSE_NEWVER=0.4.0-build182
+COMPOSE_OLDVER=0.4.0-build182
+COMPOSE_NEWVER=0.4.0-build208
 find -E $ROOT  -regex '.*\.(kts|properties|kt)' -exec sed -i '' -e "s/$COMPOSE_OLDVER/$COMPOSE_NEWVER/g" {} \;
 APPCOMPAT_OLDVER=1.1.0
 APPCOMPAT_NEWVER=1.3.0-beta01
 find -E $ROOT  -regex '.*\.(kts|properties|kt)' -exec sed -i '' -e "s/$APPCOMPAT_OLDVER/$APPCOMPAT_NEWVER/g" {} \;
-KOTLIN_OLDVER=1.4.31
-KOTLIN_NEWVER=1.4.32
+KOTLIN_OLDVER=1.4.32
+KOTLIN_NEWVER=1.5.0
 find -E $ROOT  -regex '.*\.(kts|properties|kt)' -exec sed -i '' -e "s/$KOTLIN_OLDVER/$KOTLIN_NEWVER/g" {} \;
+git grep -C 1 __KOTLIN_COMPOSE_VERSION__
+git grep -C 1 __LATEST_COMPOSE_RELEASE_VERSION__