RPC Can't bind to reserved port - Reserved port exhaustion in RHEL 4

Issue

At times user cannot get their home directories automounted because the port pool is exhausted (sunrpc.min_resvport and sunrpc.max_resvport)

The following is observed in /var/log/messages:

Oct  7 13:43:33 client kernel: RPC: Can't bind to reserved port (98).
Oct  7 13:43:33 client kernel: RPC: can't bind to reserved port.
Oct  7 13:43:33 client kernel: RPC: error 5 connecting to server server
Oct  7 13:43:33 client automount[8548]: >> mount: server:/vol/dev_users/se69639: can't read superblock
Oct  7 13:43:33 client automount[8548]: mount(nfs): nfs: mount failure server:/vol/dev_users/se69639 on /home/se69639
Oct  7 13:43:33 client automount[8548]: failed to mount /home/se69639