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CentOS 5.4 is immediately available as a new base image. Simply select it during the installation process. Existing users can yum update and reboot to upgrade to 5.4.

The CentOS team is pleased to announce the availability of CentOS 5.4. Major changes in CentOS 5 compared to CentOS 4 include:

These
updated software versions: Apache-2.2, php-5.1.6, kernel-2.6.18,
Gnome-2.16, KDE-3.5, OpenOffice.org-2.3, Evolution-2.12, Firefox-3.0,
Thunderbird-2.0, MySQL-5.0, PostgreSQL-8.

Read the full announcement @ centos.org

To install this image, simply select the CentOS 5.4 option from the build / base o/s page when installing a server.

Thanks,
the Host Virtual Team