1)Go to "Add Printer Wizard" and enable/select "A network printer or printer attached to another computer" option.

2)Go to "Printer And Faxes" option and right click then select "Sharing..." option.

3)Then a window will open type name of your shared printer then click "OK"

4)A window will get opened with a selected option then click on "Next".

5)A browser window will get opened then click on the shared printer and press "Next".

6)Then a window asking for "Apply" option will get opened

click for applying the changes then click "OK" and then "Close" the windows that are opened.

In this way you can connect or share you printer to local Computer.

thanks relly nice post
How to ristrict printing in network?
I have Windows XP plat form connected to laser printer(HP1020) and i need to stop the user from other windows XP clients from printing unnecessary print outs. please help me.