diff --git a/CHANGES.rst b/CHANGES.rst
index 5a284c3853..3cd08938a2 100644
--- a/CHANGES.rst
+++ b/CHANGES.rst
@@ -1,3 +1,11 @@
+Changes in synapse 0.5.1 (2014-11-26)
+=====================================
+See UPGRADES.rst for specific instructions on how to upgrade.
+
+ * Fix bug where we served up an Event that did not match its signatures.
+ * Fix regression where we no longer correctly handled the case where a
+   homeserver receives an event for a room it doesn't recognise (but is in.)
+
 Changes in synapse 0.5.0 (2014-11-19)
 =====================================
 This release includes changes to the federation protocol and client-server API
diff --git a/VERSION b/VERSION
index 8f0916f768..4b9fcbec10 100644
--- a/VERSION
+++ b/VERSION
@@ -1 +1 @@
-0.5.0
+0.5.1
diff --git a/setup.py b/setup.py
index d0d649612d..6b4320f0c9 100755
--- a/setup.py
+++ b/setup.py
@@ -32,7 +32,7 @@ setup(
     description="Reference Synapse Home Server",
     install_requires=[
         "syutil==0.0.2",
-        "matrix_angular_sdk==0.5.0",
+        "matrix_angular_sdk==0.5.1",
         "Twisted>=14.0.0",
         "service_identity>=1.0.0",
         "pyopenssl>=0.14",
@@ -45,7 +45,7 @@ setup(
     dependency_links=[
         "https://github.com/matrix-org/syutil/tarball/v0.0.2#egg=syutil-0.0.2",
         "https://github.com/pyca/pynacl/tarball/52dbe2dc33f1#egg=pynacl-0.3.0",
-        "https://github.com/matrix-org/matrix-angular-sdk/tarball/v0.5.0/#egg=matrix_angular_sdk-0.5.0",
+        "https://github.com/matrix-org/matrix-angular-sdk/tarball/v0.5.1/#egg=matrix_angular_sdk-0.5.1",
     ],
     setup_requires=[
         "setuptools_trial",
diff --git a/synapse/__init__.py b/synapse/__init__.py
index 14564e735e..1c10c2074e 100644
--- a/synapse/__init__.py
+++ b/synapse/__init__.py
@@ -16,4 +16,4 @@
 """ This is a reference implementation of a synapse home server.
 """
 
-__version__ = "0.5.0"
+__version__ = "0.5.1"