diff --git a/CONTRIBUTING.md b/CONTRIBUTING.md
index 5cc0dda05f..9e47481c52 100644
--- a/CONTRIBUTING.md
+++ b/CONTRIBUTING.md
@@ -73,3 +73,21 @@ The easiest way to do this is to use the `--signoff` flag when committing. E.g.:
 
     $ git commit --signoff
 
+
+## Release process
+
+1. Open pull request that:
+
+ - Updates version in `fig/__init__.py`
+ - Updates version in `docs/install.md`
+ - Adds release notes to `CHANGES.md`
+
+2. Create unpublished GitHub release with release notes
+
+3. Build Linux version on any Docker host with `script/build-linux` and attach to release
+
+4. Build OS X version on Mountain Lion with `script/build-osx` and attach to release
+
+5. Publish GitHub release, creating tag
+
+
diff --git a/docs/install.md b/docs/install.md
index eca82ce299..5a86cf9365 100644
--- a/docs/install.md
+++ b/docs/install.md
@@ -16,12 +16,12 @@ Docker has guides for [Ubuntu](http://docs.docker.io/en/latest/installation/ubun
 
 Next, install Fig. On OS X:
 
-    $ curl -L https://github.com/orchardup/fig/releases/download/0.4.2/darwin > /usr/local/bin/fig
+    $ curl -L https://github.com/orchardup/fig/releases/download/0.5.0/darwin > /usr/local/bin/fig
     $ chmod +x /usr/local/bin/fig
 
 On 64-bit Linux:
 
-    $ curl -L https://github.com/orchardup/fig/releases/download/0.4.2/linux > /usr/local/bin/fig
+    $ curl -L https://github.com/orchardup/fig/releases/download/0.5.0/linux > /usr/local/bin/fig
     $ chmod +x /usr/local/bin/fig
 
 Fig is also available as a Python package if you're on another platform (or if you prefer that sort of thing):