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Nofollow from Home is a WordPress plugin which adds rel=’nofollow’ to all external links in your posts or static page, only on your home page. It means these same links will not have the attribute when your post slips onto the 2nd page, or when displayed in Categories or Archives pages roll, or when a post is displayed as a single post.
Update Jan 20, 2017: Plugin re-written to work on modern versions of WP. Tested with WP 4.7.1