Heres how I get it to work (all instructions here on are to be executed as root
1. Move the .bin file to /opt/
2. At opt/ do chmod +x on the jre-1_5_0_06-linux-i586.bin
3. Execute the bin by doing ./jre-1_5_0_06-linux-i586.bin
Now, you mention you need the plugin Im assuming for your favorite browser. What you use? Firefox? Konq?
For Firefox do the following at your favorite terminal:
ln -s /opt/jre1.5.0_06/plugin/i386/ns7/libjavaplugin_oji.so /usr/lib/firefox-1.0.7/plugins/libjavaplugin_oji.so
And thats that.