diff --git a/_metadata.py b/_metadata.py
index 9669f116..500ed3c5 100644
--- a/_metadata.py
+++ b/_metadata.py
@@ -1,2 +1,2 @@
-__extension_version__ = "0.4.0"
+__extension_version__ = "0.5.0"
 __extension_name__ = "pytket-cutensornet"
diff --git a/docs/changelog.rst b/docs/changelog.rst
index 892af085..3f4f6046 100644
--- a/docs/changelog.rst
+++ b/docs/changelog.rst
@@ -1,6 +1,11 @@
 Changelog
 ~~~~~~~~~
 
+0.5.0 (December 2023)
+---------------------
+
+* ``MPS`` simulation with fixed ``truncation_fidelity`` now uses the corresponding truncation primitive from cuQuantum (v23.10).
+
 0.4.0 (October 2023)
 --------------------