diff --git a/tooling/Microsoft.VisualStudio.BlazorExtension/Properties/AssemblyInfo.cs b/tooling/Microsoft.VisualStudio.BlazorExtension/Properties/AssemblyInfo.cs
index f71bc39e4b..92186760d2 100644
--- a/tooling/Microsoft.VisualStudio.BlazorExtension/Properties/AssemblyInfo.cs
+++ b/tooling/Microsoft.VisualStudio.BlazorExtension/Properties/AssemblyInfo.cs
@@ -13,15 +13,15 @@ using Microsoft.VisualStudio.Shell;
     GenerateCodeBase = true,
     PublicKeyToken = "",
     OldVersionLowerBound = "0.0.0.0",
-    OldVersionUpperBound = "0.4.0.0",
-    NewVersion = "0.4.0.0")]
+    OldVersionUpperBound = "0.5.0.0",
+    NewVersion = "0.5.0.0")]
 [assembly: ProvideBindingRedirection(
     AssemblyName = "Microsoft.VisualStudio.LanguageServices.Blazor",
     GenerateCodeBase = true,
     PublicKeyToken = "",
     OldVersionLowerBound = "0.0.0.0",
-    OldVersionUpperBound = "0.4.0.0",
-    NewVersion = "0.4.0.0")]
+    OldVersionUpperBound = "0.5.0.0",
+    NewVersion = "0.5.0.0")]
 [assembly: ProvideBindingRedirection(
     AssemblyName = "AngleSharp",
     PublicKeyToken = "",
diff --git a/version.props b/version.props
index cb06e9617a..fec06ac6c1 100644
--- a/version.props
+++ b/version.props
@@ -4,7 +4,7 @@
          tooling\Microsoft.VisualStudio.BlazorExtension\Properties\AssemblyInfo.cs
          to include the new version in its upper bounds -->
     <IsFinalBuild>false</IsFinalBuild>
-    <VersionPrefix>0.4.0</VersionPrefix>
+    <VersionPrefix>0.5.0</VersionPrefix>
     <VersionSuffix>preview1</VersionSuffix>
     <PackageVersion Condition="'$(IsFinalBuild)' == 'true' AND '$(VersionSuffix)' == 'rtm' ">$(VersionPrefix)</PackageVersion>
     <PackageVersion Condition="'$(IsFinalBuild)' == 'true' AND '$(VersionSuffix)' != 'rtm' ">$(VersionPrefix)-$(VersionSuffix)-final</PackageVersion>