Well, this scenario is unlikely to happen because if you still have a Windows 98 PC at this time, then you are so 90’s.
If you would like to add a shared printer then you would probably do this
Start -> Control Panel -> Network and Internet -> View Network Computers and Devices
Then when you double-click the computer running Windows 98, you will be able to see all its shared printers and folders.
To install a shared printer, you would normally double-click the shared printer you want to install to your Windows 7 PC.
Unluckily, you will get this…
To fix your way around, on your Windows 7 PC, go to
Start -> All Programs -> Accessories -> Command Prompt
Then type the following in the command prompt
c:\> net use LPT \\[IP Address or Computer name]\[printer shared name] /persistent:yes
 can be a number depending on your LPT port. This could be also 1 in your case
[IP Address or Computer name] can be the IP address of the Windows 98 PC or its Computer name
[Printer Shared Name] the name assigned for the printer for sharing
If the command is successful, you will see a message saying so.
Quit your command prompt by clicking the “x” button or typing exit
Then go to
Start -> Device and Printers -> Add a Printer -> Add a Local Printer
Choose the LPT port you have set up in the command prompt.
From there, its easy as choosing the printer model and selecting the right driver.
Once it is installed, it is categorized as a LOCAL printer and not a NETWORK printer.