Although not a new feature to version 5.0 of the BlackBerry Enterprise Server solution, the procedure is slightly different now that the product is administered through a web browser using the BlackBerry Administration Service (BAS).
To deploy an application to a handheld device over the air, the procedure is as follows.
Create a shared application repository
Create a shared folder on the BES itself or somewhere on the LAN that the BES has access to.
Assign the BESAdmin user full read and write access to the share:

Add the repository to the BAS
Launch the BlackBerry Administration Service within a web browser and log in.
Browse to Servers and Components --> Component View --> BlackBerry Administration Service
Add the folder's UNC share path within the Software Management section and set the deployment to be managed by the BAS:

Be sure to click on the Save All entry to apply the changes.
Publish an application to the repository
ZIP up the component files of the application you wish to deploy and copy and paste the ZIP file to the shared directory you created earlier.

Within the BlackBerry Administration Service, browse to BlackBerry Solution Management --> Software --> Applications --> Add or update applications:

Browse to the ZIP file you created earlier and click Next, the package will be read and details imported:

Select the option to Publish the application.
Create a Software Configuration
Within the BAS, browse to BlackBerry Solution Management --> Software --> Create A Software Configuration:

Enter a name for the configuration and Save it.
Edit the Configuration and click on the Applications tab.
Click on the option to Add applications to software configuration
Click on the Search option to display a list of available packages:

Select the target package and click on the option to Add to software configuration

Select the deployment method (either wired, if being deployed using the Desktop Web Manager across the LAN, or wireless if being deployed over the air) and whether the package is optional or required.
Select the option to Save All.
Assign the Software Configuration to a user or a group
Open the properties of a user account or group, and click on the Software Configuration tab:

Add the software configuration to the user account and click Save All.
The package will now be deployed to the user's device.
NOTE - it is also possible for users to install applications themselves locally using the BlackBerry Web Desktop Manager if permitted by the administrator.