Things You'll Need
Instructions
Download and extract the PSP custom firmware update from the link under Resources.
Copy the folder called "UPDATE" that you have extracted.
Connect your PSP to your PC using the PSP USB cord.
Enable USB mode on your PSP in the options menu.
Click "View files and folders" when Windows recognizes the PSP. A window should open, showing you the contents of the PSP memory stick.
Open the folder "GAME" under "PSP."
Paste the "UPDATE" folder in "GAME." Click "Yes" when it asks if you want to overwrite files.
Disable USB mode on the PSP by clicking the "O" button on the PSP.
Disconnect the PSP from the PC.
Go to "GAME" > "Memory Stick" in the PSP system menu.
Select the 5.00 M33 update and hit "X."
Allow the process to complete.
Delete the file by selecting it and choosing "Delete" once the PSP restarts after the update.