Download and untar source files

lame is not available through a yum repository; but it can be obtained and installed from Dag Wieers' RPM repository
rpm -ivh http://apt.sw.be/redhat/el5/en/i386/RPMS.dag/lame-3.97-1.el5.rf.i386.rpm

Get the latest released version of freePBX
You may wish to check that the link specified here is actually the latest and greatest. Look at the files available on Source Forge and pick the latest one there.

cd /usr/src
wget http://mirror.freepbx.org/freepbx-2.3.x.tar.gz

tar zxvf freepbx-2.3.x.tar.gz

Get the latest released version of Asterisk
wget http://downloads.digium.com/pub/asterisk/releases/asterisk-1.4.x.tar.gz
tar zxvf asterisk-1.4.x.tar.gz

wget http://downloads.digium.com/pub/zaptel/releases/zaptel-1.4.x.tar.gz
tar zxvf zaptel-1.4.x.tar.gz 

wget http://downloads.digium.com/pub/libpri/releases/libpri-1.4.x.tar.gz

tar zxvf libpri-1.4.x.tar.gz

wget http://downloads.digium.com/pub/asterisk/releases/asterisk-addons-1.4.x.tar.gz
tar zxvf asterisk-addons-1.4.x.tar.gz


mkdir /usr/src/sounds
cd /usr/src/sounds
wget
http://downloads.digium.com/pub/telephony/sounds/releases/asterisk-core-sounds-en-ulaw-1.4.x.tar.gz
tar zxvf asterisk-core-sounds-en-ulaw-1.4.x.tar.gz

wget http://downloads.digium.com/pub/telephony/sounds/releases/asterisk-extra-sounds-en-ulaw-1.4.x.tar.gz
tar zxvf asterisk-extra-sounds-en-ulaw-1.4.x.tar.gz