Updated mysql packages are available for CentOS-3
https://rhn.redhat.com/errata/RHSA-2004-569.html refers
Updated files are :-
mysql-3.23.58-2.3.i386.rpm
mysql-bench-3.23.58-2.3.i386.rpm
mysql-devel-3.23.58-2.3.i386.rpm
mysql-server-3.23.58-2.3.i386.rpm
in updates/i386/RPMS/
These are available at http://mirror.centos.org/3.3/ and should be on all mirrors within a few hours.
To update to the latest version 'yum update mysql' should be
sufficient.