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Howdy,
The MySQL version you're using is the most recent available to CentOS 5.
We recomment using the packages that come with your distro, and using third party packages can cause problems and reduce the stability of your system.
There are third party repositories where you can get more recent MySQL versions, but there aren't any in particular that we'd recommend.
Our suggestion is that if you need newer package versions, you might consider upgrading to CentOS 6, which comes with MySQL 5.1.
-Eric