In case anyone else needs help on solving this in the future, this is a solution to my problem when I have python2.7 altinstalled, matplotlib-1.0.0, ipython, and numpy installed using pip-2.7.

I was getting this error:
"NameError: global name 'lapack_lite' is not defined"

when using ipython -pylab then plotting something.

SOLUTION:
install lapack-devel and reinstall numpy using pip-2.7 ala:

> pip-2.7 install numpy

It should then download the latest version from pypi and compile and install it properly.

Now, normally I would just use things in the repos in order to make it easier for me but one of my users requested a version of matplotlib and PyQt among other things that were not included in SL5 repos.

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