Updating fedora core 3 yum
It appears that in recent versions of Fedora, there was an attempt to integrate a "Media Repo" with Package Kit, but there were enough bugs that it was left out of Fedora 14 (this for example).It sounds like you're going to have to follow the directions mentioned in the other answers to either copy the packages locally or mount the ISO image as a loopback device, and set up yum file:// URLs to point a the packages.
Atomic Rocket Turtle ( company i found that regularly updating applications used in Cent OS/Fedora/RHEL.
However if you want to understand the complete working of yum. YUM repository configuration We're looking for long answers that provide some explanation and context.
Don't just give a one-line answer; explain why your answer is right, ideally with citations.
If you have server running Cent OS/Fedora/RHEL, you will noticed that it will use regular rpms of distro to install PHP and to update you have to restrict yourself with distro update of said rpms of PHP, which can be not a major update.
Like in Cent OS 5.3 you cannot update PHP version above 5.1.x.