After experiencing heavy drops in PR many sites and blogs are adding nofollow tags to their paid links. You are only required by Google to add nofollow tags to PAID links, not links in your blogroll or links in your posts that have not been paid for. If you do something like nofollow tags to your whole site then that causes other problems- limit yourslef to adding nofollow tag sto just your paid outbound links..
Add NOFOLLOW Tags: How Do You Make A Link nofollow ?
This is how a link looks in straightforwards HTML or if you are use link function with WordPress when writing an new post or page:
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You add “rel=nofollow” WITHIN the anchor tag…. doesn’t matter where you put it.