The thread that seems to have helped people the most is:
http://www.linuxquestions.org/questi...d.php?t=518752
On my RH 7.3 system I downloaded the file (tzdata2007c.tar.gz), gunzipped it, untarred it, ran the zic then copied into /usr/share/zoneinfo (EST5EDT, America/New_York for Eastern timezone) then copied the America/New_York to /etc/localtime). All of this is detailed in the thread.
It worked fine so wanted you to know it does work for RH 7.3.