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I think it depends on the content of a page (from your site) whether to place "nofollow" or not, we do need to get all our pages indexed and searchable in SEPRs. As for placing the "nofollow" on outbound links -- well, it depends... For blogs, a "nofollow" is used on comments to prevent spam. For link exchange partners, a "dofollow" link is what you've agreed upon and therefore must abide.
For me, as long as I'm linking to a very good source then there's no need to put the "nofollow" link.
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