This document explains how to share a CD or DVD drive over a network in Windows XP.
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Open My Computer, right click on the CD or DVD drive, and click Sharing and Security...
Select the Sharing tab, then select the Share this folder radio button. Make sure to enter a helpful Share name. Then, click on the Permissions box.
Select Everyone if it is not already selected and check the Allow checkbox to the right of Read.
Click OK in the two windows to close them.
Open My Network Places from the left pane in My Computer.
Select the CD/DVD drive.