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When you power up, the BIOS transfers control to the bootloader code found on sector 0 of the hard drive. This bootloader code then loads the file "NTLDR" from the boot drive. If this file is missing, the machine won't complete the booting process.
Did you install XP to drive C: or another partition on the drive? The NTLDR has to be in the root directory of the boot partition. If you installed XP to a different partition, you'll have to make that partition active, and it has to be bootable.
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