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Yes, this is true that Out going as well as Incoming links contribute to a good page rank. but it is not true that you will always be ranked high if you have good range of inbound and outbound links. The sites to which you link does matter. The sites which you link must a have a good pagerank else you will have to pay for that. There are various linking programs which are quiet beneficial but be carful while choosing such programs. you must not voilate the policies too. It may take time but the change will occur.
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