Free up some space by whatever the means you have (or add another disk) and then simply boot from the installation CD and during partitioning, set up separate partitions for the new Linux installation. You can safely use the same swap partition if you would like too, and the same /boot partition (if you use one) as well.
What you need to keep in mind is which of the installations you want to handle the bootloader. I usually choose not to set up a bootloader at all when installing a secondary Linux OS on a computer and let the first/primary installation handle it instead. This may mean setting up your Grub config file manually but it's usually not more than a little copying and pasting and editing locations (partition and device names)-
Håkan
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