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According to the Wiki, 95 was preemptive
http://en.wikipedia.org/wiki/Computer_multitasking#Cooperative_multitasking.2Ftime-sharing

Unless I am reading it wrong.

But it makes sense, otherwise full screen network enabled games wouldn't work too well, the framerate would freeze while waiting for I/O from a network adapter or from the HDD.
Posted by Slayer_
Updated - 8th Dec 2011