gcc version 2.96 is quite old, bearing in mind the current verion is 3.4.0.
There is an argument for keeping the old verion, some programs [eg the kernel] are recomended to be built with an old version of the compiler [I don't know If this is still true]
I would follow Jeff Squyres advice and upgrade to a newer compiler! [Aah... the joys of google]
As you are using RedHat an rpm is the easiest way to install,
finding them from a website like [http://www.rpmfind.net
gcc will have quite a few dependancies, such as binutils and glibc, and probably many more.