Page rank is definitely a mirage after which each webmaster is running as a high page rank is seen as being an authority on the subject.
In order to not to pass page rank to internal pages listed on home page webmasters generally make them No Follow and same is not in order as per Matt Cutts latest video on the subject. Listen to Matt Cutts view point here.
Nonetheless you can check out way to use NoFollow attribute usage here to use it correctly.
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