diff --git a/scripts/updateDepositManager.js b/scripts/updateDepositManager.js
new file mode 100644
index 000000000..2c37a92c0
--- /dev/null
+++ b/scripts/updateDepositManager.js
@@ -0,0 +1,34 @@
+const contractAddresses = require('../contractAddresses.json')
+
+const DepositManager = artifacts.require('DepositManager')
+const DepositManagerProxy = artifacts.require('DepositManagerProxy')
+
+async function deployAndUpdateWM() {
+  const newDM = await DepositManager.new()
+  console.log('new DM deployed at: ', newDM.address)
+  const dmProxy = await DepositManagerProxy.at(
+    contractAddresses.root.DepositManagerProxy
+  )
+  const result = await dmProxy.updateImplementation(newDM.address)
+  console.log('tx hash: ', result.tx)
+
+  const impl = await dmProxy.implementation()
+  console.log('new impl: ', impl)
+}
+
+module.exports = async function(callback) {
+  // args starts with index 6, example: first arg == process.args[6]
+  console.log(process.argv)
+  try {
+    const accounts = await web3.eth.getAccounts()
+    console.log(
+      'Current configured address to make transactions:',
+      accounts[0]
+    )
+    await deployAndUpdateWM()
+  } catch (e) {
+    // truffle exec <script> doesn't throw errors, so handling it in a verbose manner here
+    console.log(e)
+  }
+  callback()
+}