diff --git a/setup.py b/setup.py
index e633f041b..8cdb8b8c6 100644
--- a/setup.py
+++ b/setup.py
@@ -40,7 +40,7 @@
 import setuptools
 
 
-LIBRARY_VERSION = "1.5.7"
+LIBRARY_VERSION = "1.5.8"
 
 TVB_TEAM = "Stuart Knock, Marmaduke Woodman, Paula Sanz Leon, Laurent Pezard, Viktor Jirsa"
 
diff --git a/tvb/basic/config/settings.py b/tvb/basic/config/settings.py
index 0f724c9bd..25a7d9283 100644
--- a/tvb/basic/config/settings.py
+++ b/tvb/basic/config/settings.py
@@ -47,7 +47,7 @@ class VersionSettings(object):
     """
 
     # Current release number
-    BASE_VERSION = "1.5.7"
+    BASE_VERSION = "1.5.8"
 
     # Current DB version. Increment this and create a new xxx_update_db.py migrate script
     DB_STRUCTURE_VERSION = 17