Unless I'm mistaken, does it look like Centos 4.7 is missing an update released on December 3rd 2008?
Upstream details :- http://rhn.redhat.com/errata/RHBA-2008-0989.html
An updated tmpwatch package that fixes various bugs is now available.
The tmpwatch utility recursively searches through specified directories and removes files which have not been accessed in a specified period of time. tmpwatch is typically enabled and configured to clean up directories used for temporarily holding files, such as, for example, the /tmp directory.
This updated tmpwatch package includes fixes for the following bugs:
* tmpwatch unnecessarily reported a "No such file or directory" error whenever a file was deleted before tmpwatch accessed it. In this updated package, tmpwatch correctly no longer reports such errors, thus resolving the issue.
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Regards, Vandaman.