[CentOS] Verifing: CentOS 5 cannot resize a *live* root filesystem

Just want to verify: CentOS 5's FS utilities are too old to safely resize a *live* (mounted, etc.) root file system (and the CentOS 5 installer/rescue system does not include either resize2fs or fsadm utilities).

I am presuming I will need a full-fledged Live CD/DVD to resize the root file system.

This is for an old 32-bit laptop that presently has CentOS 5.11 on it -- I want to shrink the root file system (it is LVM) and make a separate /home file system, then upgrade it to something newer (not C6, since it is not PAE -- I'm *hoping* Ubuntu's 32-bit installer can deal with a non-PAE 32-bit system).