How to access a shared folder in Host OS from Guest OS / Virtual Machine?

How to share a folder in Host OS and access it from Guest OS / Virtual PC /Virtual Machine?

Sharing Host machine folders and accessing them from Guest machine / Virtual machine is very easy.

1. Just install Virtual Machine Additions on the Virtual Machine OS (Guest OS). If already installed, proceed to step 2 directly.

Steps to Install Virtual Machine Additions:

--> Start up your XP Virtual Machine.
--> From the Action menu, choose "Install or Update Virtual Machine Additions".
Or
Press the key command Right Alt + I .
--> Once it is installed, Virtual PC will prompt you to reboot the XP Virtual Machine.
2. Once Virtual Machine Additions is installed, from Virtual Machine's console - go to Edit -> Settings ->Shared Folders (refer below image)
3. Here specify all the drives/folders of host OS which u want to share with Virtual PC's OS (guest OS)