diff --git a/CHANGELOG.md b/CHANGELOG.md
index 9e18799b1..3c9488977 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,5 +1,23 @@
 # Changelog
 
+## [0.5.0](https://www.github.com/googleapis/python-compute/compare/v0.4.1...v0.5.0) (2021-07-25)
+
+
+### Features
+
+* adding samples for default values ([#64](https://www.github.com/googleapis/python-compute/issues/64)) ([553e389](https://www.github.com/googleapis/python-compute/commit/553e3891179c2719a57d398ffc26c1459945bf4d))
+
+
+### Bug Fixes
+
+* **deps:** pin 'google-{api,cloud}-core', 'google-auth' to allow 2.x versions ([#81](https://www.github.com/googleapis/python-compute/issues/81)) ([1163f2b](https://www.github.com/googleapis/python-compute/commit/1163f2bb15f0e042bdd9562a31ad2ac7f39e3536))
+* Kokoro uses separate project for concurent tests. ([#83](https://www.github.com/googleapis/python-compute/issues/83)) ([40afb33](https://www.github.com/googleapis/python-compute/commit/40afb333a963717853f70410a7a08eda5492418c))
+
+
+### Documentation
+
+* samples docstring and comments update ([#69](https://www.github.com/googleapis/python-compute/issues/69)) ([2d53eb1](https://www.github.com/googleapis/python-compute/commit/2d53eb1839a8751945ba7cdf12991f2970893df2))
+
 ### [0.4.1](https://www.github.com/googleapis/python-compute/compare/v0.4.0...v0.4.1) (2021-06-16)
 
 
diff --git a/setup.py b/setup.py
index 441dd3017..c4418e9db 100644
--- a/setup.py
+++ b/setup.py
@@ -19,7 +19,7 @@
 import os
 import setuptools  # type: ignore
 
-version = "0.4.1"
+version = "0.5.0"
 
 package_root = os.path.abspath(os.path.dirname(__file__))