Link exchange requests have a very bad reputation. The reason for that is that many people send mass link exchange requests that are nothing more than spam. For more details visit: Free Link Directory Direct link : click here
In simple terms, PageRank leakage/dilution is when outbound links siphon off PageRank which would normally be distributed to internal pages, therefore reducing your sites overall PageRank. How much of an effect it has on your site will depend on the strength of your internal linking and how many outbound links...
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