diff --git a/CHANGELOG.md b/CHANGELOG.md
index 7e57b8e..d7b2382 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,8 @@
 # Changelog
 
+## 0.5.0-pre.1 (December 19, 2022)
+* Updated curve25519-dalek dependency to 4.0.0-pre.5
+
 ## 0.4.0 (September 15, 2022)
 * Updated to be in sync with draft-irtf-cfrg-voprf-11, with
   the addition of the POPRF mode
diff --git a/Cargo.toml b/Cargo.toml
index 1e86d56..6ac472b 100644
--- a/Cargo.toml
+++ b/Cargo.toml
@@ -9,7 +9,7 @@ name = "voprf"
 readme = "README.md"
 repository = "https://github.com/novifinancial/voprf/"
 rust-version = "1.57"
-version = "0.4.0"
+version = "0.5.0-pre.1"
 
 [features]
 alloc = []
diff --git a/README.md b/README.md
index 2751847..7b8a685 100644
--- a/README.md
+++ b/README.md
@@ -16,7 +16,7 @@ Installation
 Add the following line to the dependencies of your `Cargo.toml`:
 
 ```
-voprf = "0.4"
+voprf = "0.5.0-pre.1"
 ```
 
 ### Minimum Supported Rust Version