I don't remember well but if RH4.8 supports ASMlib then try it (I know that recent releases don't support ASMlib so UDEV should be used). In this case you may install the right binaries for your OS release and arch,
and stamp them for ASM usage:
put the below into: "/etc/rc.local" to remain after reboot
chown oracle:oinstall /dev/raw/raw1
chmod 600 /dev/raw/raw1
You are using raw devices which are being desupported on this version (11.2) and is desupported on 12.1. So, I recommend you use UDEV Rules or ASMLib.
Permission are wrong.
It should be:
The group should be asmadmin or dba.
#chown oracle:dba /dev/raw/raw*
And permission should be 660.
#chmod 660 /dev/raw/raw*
Please check Docs, everthing you need is there.