If you are trying to upgrade PHP to the latest version (5.2.10 as I write this article) and MySQL and mcrypt (for the latest phpmyadmin) and you are using a server instance on EC2 running virtualmin AMI. Here is some help for the upgrade process which works for me.
Copy and paste these into terminal window
rpm -ivh http://software.virtualmin.com/bleed/centos/5/i386/virtualmin-bleed-release-1.0-1.rhel.noarch.rpm
yum upgrade php
wget http://download.fedora.redhat.com/pub/epel/5/i386/epel-release-5-3.noarch.rpm
wget http://rpms.famillecollet.com/enterprise/remi-release-5.rpm
rpm -Uvh remi-release-5*.rpm epel-release-5*.rpm
yum install mysql-server
yum install mcrypt
yum install php-mcrypt
There might be some redundant commands up there, but its exactly what worked for me. Feel free to exclude some statements if they are not used.
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