its
Cipher
no i think it will not work as folder lock. You must better use Sharing and Security feature in WinXPPro.
Bootup in Safe mode for XPPro. Then right click the folder you want to protect and choose Sharing and Security tab. There you can change the security settings for that folder. If you haven't done this before I suggest you try this on some blank new folder.
or better under Folder options, theres an option called 'Use simple file sharing'. Disble that and you will see Security tab on right click.
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oops while I was writing this Vishal replied.