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DHCP on windows 7

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Nope - you can only do it on Microsoft Server OS's. You'll need to use a third-party utility.

Actually, now I think about it I remember you used to be able to do this by turning on Internet Connection Sharing. I did this on my Windows 98 PC to share my dialup modem. Ahhh... they were the bad ol' days. In any event, you'll still want to use a third-party utility.