diff --git a/CHANGELOG.md b/CHANGELOG.md
index 67cd087e..df7e6dab 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,8 +1,11 @@
 # Change Log
 
-## Unreleased
+## 0.5.0
 
-- Replace outdated documentation links in Change Log.
+- Adds [`arm-none-eabi-gdb` v14.3.1](https://artifacts.tools.arm.com/arm-none-eabi-gdb/14.3.1/) to CMSIS Debugger extension pack. This removes
+the need to install the `GCC compiler for ARM CPUs` for a workspace using the
+`Arm Tools Environment Manager` extension.
+- Updates outdated documentation links in Change Log.
 
 ## 0.4.0
 
diff --git a/README.md b/README.md
index 62626d99..5285ae68 100644
--- a/README.md
+++ b/README.md
@@ -455,9 +455,10 @@ Related open source projects are:
 The debug setup requires a GDB installation supporting the GDB remote protocol and that can connect to a
 GDB server like pyOCD.
 
-We recommend to install the [`Arm GNU Toolchain`](https://developer.arm.com/Tools%20and%20Software/GNU%20Toolchain)
-using the `Arm Tools Environment Manager` extension. It comes with `arm-none-eabi-gdb` which is used in the
-Arm CMSIS Debugger default debug configurations.
+This extension includes `arm-none-eabi-gdb` which is used in the Arm CMSIS Debugger default debug configurations.
+
+If you wish to use a different GDB installation, enter the full path to the executable (including the file name)
+in the `gdb` setting in the `launch.json` file.
 
 ### pyOCD Debug Setup
 
diff --git a/package.json b/package.json
index 6d6ea509..ce17f5e3 100644
--- a/package.json
+++ b/package.json
@@ -2,7 +2,7 @@
   "name": "vscode-cmsis-debugger",
   "displayName": "Arm CMSIS Debugger",
   "description": "Run and debug embedded and IoT projects on Arm Cortex-M single or multi core devices. Connects via pyOCD to CMSIS-DAP or other GDB servers.",
-  "version": "0.4.0",
+  "version": "0.5.0",
   "preview": true,
   "publisher": "Arm",
   "author": "Jens Reinecke <jens.reinecke@arm.com>",