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/Peo, FreeWebSpace.net
They aren't magically given PR as they get older. You have to earn the pagerank by keeping an active and popular site with it, or bend the rules a little and use SEO methods to trick the ratings into thinking you have a popular site.
You cannot only depend on the age of Domain .
Age of the domain only help you easy to get index and trust from search engine. You still need lot of unique and quality content in your website and did some simple onsite SEO.
Age of domain may influence but it would not take effect if your site do no required quality content .
Why are you worrying if your domain is OLD, you should be happy if have one of that kind. Google lays preference to the domain that is very old and less preference to the one that is recently purchased. So be happy. Everyone seeks to get the older and oldest domains just to gain rankings in search engine.
So be happy.
The PR is a proprietary method used by Google and you do not need to comply with it. There are thousands of fake websites or site of poor quality that have PR 4,5 or above. Just do your business the way you should, create quality content useful for your website users and your pages will be important.
Domain is one factor of increasing page rank but what about others. It does not mean that one factor will remain same. All about changes in algorithm that don't remain same in search engine
If you have old domain it is your plus point . you just need to write a good content and make a good use of social media sites for driving a traffic on your site. These points will helps you to improve your page rank .