diff --git a/ChangeLog.txt b/ChangeLog.txt
new file mode 100644
index 00000000..1f4f344e
--- /dev/null
+++ b/ChangeLog.txt
@@ -0,0 +1,9 @@
+v0.3
+====
+
+ * encoding flags can be loaded from file
+ * fixed a bug that occurs if the end of a video is included
+ * support for FFmpeg 3
+ * improved parsing of commandline arguments
+
+Thanks to baskerville and monarc99
diff --git a/Makefile b/Makefile
index a8a05818..2f8f06c3 100644
--- a/Makefile
+++ b/Makefile
@@ -2,7 +2,7 @@
 -include local.mk
 
 APP=avcut
-AVCUT_VERSION=0.2
+AVCUT_VERSION=0.3
 
 ifneq ($(CROSS_COMPILE),)
 	CC=$(CROSS_COMPILE)gcc