Solved the problem myself!!! Redhat could not help and you will see why.
On page 180 of the "Customization Guide" that comes with Redhat 7.1, see item 11.
Kernel modules are installed in the name of the original install kernel which for 7.1 is 2.4.2-2.
/lib/modules/2.4.2-2/kernel/drivers/...
OK for the old kernel!!!! but...
I changed the Makefile as indicated in item 8 to
EXTRAVERSION=2.4.2-2-3JULY01.
Modules should have been installed into
/lib/modules/2.4.2-2-3JULY01/kernel/drivers/...
The book is either missing something or
make modules_install is not working.
I created a correct
/lib/modules/2.4.2-2-3JULY01/kernel/drivers/...
and now I am off to the next problem