diff --git a/NEWS b/NEWS
index ea70e8f..56e95f9 100644
--- a/NEWS
+++ b/NEWS
@@ -1,3 +1,13 @@
+0.5.5:
+
+This patch release contains a couple of important fixed to program logic,
+and a few minor improvements in slibtool's own build system.
+
+- link mode: support over-linking for an .la wrapper linker input argument.
+- execute mode: properly handle the current working directory.
+- build system: added support for [C|LD]FLAGS_LAST and [C|LD]FLAGS_ONCE.
+- build system: avoid side effects on the build system due to git-status.
+
 0.5.4:
 
 This patch release includes a few fixes to the program logic and output,
diff --git a/project/tagver.mk b/project/tagver.mk
index f2f5455..4bbcdab 100644
--- a/project/tagver.mk
+++ b/project/tagver.mk
@@ -2,4 +2,4 @@ VER_NAMESPACE	= SLBT
 
 VER_MAJOR	= 0
 VER_MINOR	= 5
-VER_PATCH	= 4
+VER_PATCH	= 5