Me and a couple of my friends would like to make our own Ubuntu based distribution. But I don't know much about Ubuntu or SystemV based distros. How ever I have found some tools to change Ubuntu a bit, but all those screen shots on those webs don't tell me much. I have seen the bootsplash being changed but then it still says Ubuntu, we would like to change every Ubuntu word in the distro to our own name.

Also, how much space will I need to make a Ubuntu based distro?
In there we want all desktop tools needed by a common user, like OOo, FF, Thunderbird, GIMP, gcc and our local software, developed by local developers like IceWM etc.
Main desktop manager will be I think, GNOME, we're still considering that.

It's basically just a matter of taking an Ubuntu CD and extracting the SquashFS. You then can chroot to it, and modify it in pretty much any way you want. I've done it several times, but only to make sure my Ubuntu CD always has the latest updates included. Here's a HOWTO.

Is it doable without the Ubuntu distro installed?
I have only Slackware and I'm lacking in computers and disk space to install another operating system.

On that link there is only talk about modifing the LiveCD. Does this mean that any changes I make won't be seen later in an installed system?
I did only quickly check the site.

Yes, ideally you'd wanna do this on a running Ubuntu system, as you'll likely wanna use Debian/Ubuntu-specific tools such as apt when you are in the chroot. There could also be other problems I haven't thought about regarding doing this on other distros. I only do apt-get updates/upgrades when I tweak the CD. =/

An option for you could be to install QEMU and run Ubuntu inside your Slackware. But since your space is low, perhaps you could simply use the Ubuntu CD itself. In other words, boot the CD, mount a partition on your hard disk, and then work from the Live CD environment - no Ubuntu installation necessary. It's just a thought.

No. Changes to the SquashFS image affect both the Live environment as well as the installed environment. Of course, there's other modifications you can do besides just tweaking the SquashFS image. For those, check out this other HOWTO.

How'd it go with this, Tux-Slack?

Just wanted to thank you for your useful information. I was looking for something like this