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Pagerank 0 from PR5 for 4+ year old site

The homepage fell down from PR5 to PR0 in last two Google updates

10:31 am on Jun 17, 2005 (gmt 0)

Senior Member from IN 

WebmasterWorld Senior Member 10+ Year Member

joined:Nov 27, 2003
votes: 2

It is a content site with more than 40K visitors a month. In December update the site fell from PR5 to PR4 however the few inside pages remain PR5 or PR4. (Total more than 300 pages). Now today i checked the homepage PR went to PR0 and all PR pages are one PR less i.e, PR5 pages are now PR4 and PR4 is PR3 etc.

However the traffic from Google to my site is constant as of now.

Is this a part of new update! Anyone else experiencing same?