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Hi, I built a 2.4.36 kernel and edited the menu.lst file to have the name of this new kernel
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It takes more than just adding the name of the kernel to the menu.lst to boot the new kernel.
The process of compiling a kernel produces a compressed kernel image (bzImage) which is located somewhere in /usr/src (exact location varies among distros). You need to either copy that image to /boot as vmlinuz-<kernel number> or put a symlink in /boot to the bzImage in /usr/src, then edit /boot/grub/menu.lst to show the new kernel.
You also have to make a new initrd for the new kernel (if your distro requires one) and put it in /boot, with appropriate edit of menu.lst.