diff --git a/README.md b/README.md
index e48f53982..418796e06 100644
--- a/README.md
+++ b/README.md
@@ -18,9 +18,11 @@ This distribution contains:
 Version Notes:
 ==============
 
-- 5.0.2:
+- 5.0.3: DEVELOPMENT
+  - Minor updates (see https://github.com/nasa/osal/pull/292)
+- 5.0.2: DEVELOPMENT
   - Bug fixes and minor updates (see https://github.com/nasa/osal/pull/281)
-- 5.0.1:
+- 5.0.1: DEVELOPMENT
   - Minor updates (see https://github.com/nasa/osal/pull/264)
 - 5.0.0: RELEASE CANDIDATE
   - In build verification testing to be considered for official release
diff --git a/src/os/inc/osapi-version.h b/src/os/inc/osapi-version.h
index 57b81f695..292ec9ddc 100644
--- a/src/os/inc/osapi-version.h
+++ b/src/os/inc/osapi-version.h
@@ -20,7 +20,7 @@
 
 #define OS_MAJOR_VERSION 5
 #define OS_MINOR_VERSION 0
-#define OS_REVISION      2
+#define OS_REVISION      3
 #define OS_MISSION_REV   0
 
 /**