Homebrew developer Dark-AleX has released a CFW 3.80 M33 add-on which allows users to launch homebrew which have not been updated and require the kernel 1.50 to work.

Unfortunately, PSP owners will be unable to install this update on their PSPs via WiFi using the Network Update feature in CFW 3.80 M33 because it is an optional add-on.

If you plan on installing this add-on, be advised that it is only for the PSP Phat. There weren't any instructions included in the compressed file but MrTuto_Alek, one of the ExoPhase members, was nice enough to provide the method for installing the program:

Instructions:

* Copy the files in the release to a directory called UPDATE
* Move the UPDATE directory to /PSP/GAME/UPDATE.
* Get sony 1.50 update and copy it to the root with name "150.PBP"
* Run the program and done.