diff --git a/README b/README
new file mode 100644
index 00000000..5c464635
--- /dev/null
+++ b/README
@@ -0,0 +1,20 @@
+tlslite-ng is a pure python implementation of SSLv3.0, TLS 1.0, TLS 1.1 and
+TLS 1.2 protocols.
+
+It can use pycrypto, m2crypto and gmp for acceleration of cryptographic
+operations but is not dependant upon them.
+
+Functionality implemented include:
+ - RC4, 3DES-CBC, AES-CBC and AES-GCM ciphers
+ - MD5, SHA1, SHA256 and SHA384 HMACs as well as AEAD mode of operation
+ - RSA and DHE_RSA key exchange
+ - anonymous DHE key exchange
+ - NULL encryption ciphersuites
+ - FALLBACK_SCSV
+ - encrypt-then-MAC mode of operation for CBC ciphersuites
+ - client certificates
+ - TACK certificate pinning
+ - SRP_SHA_RSA ciphersuites
+
+tlslite-ng aims to be a drop-in replacement for tlslite while providing more
+comprehensive set of features and more secure defautls.
diff --git a/setup.py b/setup.py
index 4a9cd210..8e4b4833 100755
--- a/setup.py
+++ b/setup.py
@@ -5,15 +5,34 @@
 
 from distutils.core import setup
 
+
+
 setup(name="tlslite-ng",
-      version="0.5.0-beta2",
+      version="0.5.0-beta3",
       author="Hubert Kario",
       author_email="hkario@redhat.com",
       url="https://github.com/tomato42/tlslite-ng",
-      description="tlslite implements SSL and TLS.",
+      description="Pure python implementation of SSL and TLS.",
       license="LGPLv2",
       scripts=["scripts/tls.py", "scripts/tlsdb.py"],
       packages=["tlslite", "tlslite.utils", "tlslite.integration"],
       package_data={
                     'package1': ['LICENSE', 'README.md']},
+      obsoletes=["tlslite"],
+      classifiers=[
+            'Development Status :: 4 - Beta',
+            'Intended Audience :: Developers',
+            'License :: OSI Approved :: GNU General Public License v2 (GPLv2)',
+            'Operating System :: OS Independent',
+            'Programming Language :: Python',
+            'Programming Language :: Python :: 2.6',
+            'Programming Language :: Python :: 2.7',
+            'Programming Language :: Python :: 3.2',
+            'Programming Language :: Python :: 3.3',
+            'Programming Language :: Python :: 3.4',
+            'Topic :: Security :: Cryptography',
+            'Topic :: Software Development :: Libraries :: Python Modules',
+            'Topic :: System :: Networking'
+          ],
+      keywords="ssl, tls, pure-python"
       )
diff --git a/tlslite/__init__.py b/tlslite/__init__.py
index 48468401..8a014992 100644
--- a/tlslite/__init__.py
+++ b/tlslite/__init__.py
@@ -21,7 +21,7 @@
 Then use the L{tlslite.TLSConnection.TLSConnection} class with a socket.
 (Or, use one of the integration classes in L{tlslite.integration}).
 
-@version: 0.5.0-beta2
+@version: 0.5.0-beta3
 """
 
 from tlslite.api import *
diff --git a/tlslite/api.py b/tlslite/api.py
index b31bab3d..f1545af1 100644
--- a/tlslite/api.py
+++ b/tlslite/api.py
@@ -1,7 +1,7 @@
 # Author: Trevor Perrin
 # See the LICENSE file for legal information regarding use of this file.
 
-__version__ = "0.5.0-beta2"
+__version__ = "0.5.0-beta3"
 from .constants import AlertLevel, AlertDescription, Fault
 from .errors import *
 from .checker import Checker