There is a good discussion of how to get the NTP daemon (ntpd) properly configured and running over in this thread. The ntpd package comes installed on Enterprise Linux 3 for sure (I've checked). So, all you need to do is to configure the /etc/ntp.conf file and set the startup parameters with the chkconfig command (as I've posted in that thread). I've done this at other hosting companies on a Cobalt RaQ 550 and Red Hat 9 servers. The only issue is having time servers that will allow you to connect. The ones suggested in that thread are working OK for me!