diff --git a/CHANGELOG.md b/CHANGELOG.md
index fda49398..f513990c 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,3 +1,9 @@
+0.5.4
+=====
+- Allow hooks to produce outputs with arbitrary bytes
+- Fix pre-commit install when .git/hooks/pre-commit is a dead symlink
+- Allow an unstaged config when using --files or --all-files
+
 0.5.3
 =====
 - Fix autoupdate with "local" hooks - don't purge local hooks.
diff --git a/setup.py b/setup.py
index dddf8a00..c75a8919 100644
--- a/setup.py
+++ b/setup.py
@@ -9,7 +9,7 @@ setup(
         'hooks.'
     ),
     url='https://github.com/pre-commit/pre-commit',
-    version='0.5.3',
+    version='0.5.4',
 
     author='Anthony Sottile',
     author_email='asottile@umich.edu',