blocking outgoing ports with iptables

[ssharma at revsharecorp.com (Ajay Sharma)]

Hi,

I'm using the generic system-config-securitylevel-tui program on a 
remote server to configure my firewall.  So far it's been fairly decent, 
allowing me to open up ports and whatnot.  But I want to start blocking 
a couple of outgoing ports on my machine.  I want to lock it down so the 
only traffic going in our out of my machine is stuff that I specify.

Is there a way to do this with the system-config-securitylevel program? 
  If not, what do you recommend I use to configure the firewall?

thanks,
ajay