diff --git a/Cargo.toml b/Cargo.toml
index d10575e18ec..6cbfaa45a83 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -1,6 +1,6 @@
 [package]
 name = "hpke-dispatch"
-version = "0.4.0"
+version = "0.5.0"
 edition = "2021"
 description = "runtime algorithmic selection for hybrid public key encryption"
 license = "MPL-2.0"
diff --git a/package.json b/package.json
index b5b5ba3965b..caeb3d11cae 100644
--- a/package.json
+++ b/package.json
@@ -1,7 +1,7 @@
 {
   "name": "hpke",
   "description": "hybrid public key encryption",
-  "version": "0.4.0",
+  "version": "0.5.0",
   "license": "MPL-2.0",
   "repository": {
     "type": "git",