How exactly did you set up Ubuntu? And exactly when do you receive this error? During bootup? Or is it during the configuration of LILO?
Before you make any changes to your fstab file you should back it up.
sudo cp /etc/fstab /etc/fstab.backup
You'll need to enter your root password.
To restore the original fstab just run the same command with "fstab" and "fstab.backup" switched. When you're done (fstab is working and you're not going to make anymore changes to it), you can remove the backup file with this:
sudo rm /etc/fstab.backup
I don't really know what the deal is with all that UUID stuff, but it's possible that LILO doesn't like that. After you backup fstab and answer my questions we can try changing the names of your partitions in fstab.
The only way I'd know how to tell you to switch to GRUB is to start the installation over. Someone who is more familiar with Ubuntu could almost definitely tell you a better way.