diff --git a/setup.py b/setup.py
index ceb69a2f7..58ad3eaac 100644
--- a/setup.py
+++ b/setup.py
@@ -9,11 +9,11 @@
 from setuptools import setup, Extension, find_packages
 from Cython.Build import cythonize
 
-MAJOR = 4
-MINOR = 8
-MICRO = 1
-PRERELEASE = ""
-IS_RELEASED = False
+MAJOR = 5
+MINOR = 0
+MICRO = 0
+PRERELEASE = "rc1"
+IS_RELEASED = True
 
 # If this file is part of a Git export (for example created with "git archive",
 # or downloaded from GitHub), ARCHIVE_COMMIT_HASH gives the full hash of the