The steps are very simple, but as requested by many I am just recapitulating the steps in pictorial mode with very short descriptions..
Step 1: Control Panel... Programs... Turn On Features...Select IIS form list that comes... Select your features.
Step2: Installation and settings take some minutes and at last localhost page opens up as shown on Windows vista.
Step 3: Nothing!! It is already installed. You can access localhost by just typing it on any Internet Browser Application eg. IE, Firefox etc.
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