Yessir. This is actually a LOT longer then it needs to be, but it's good info:
Create a new Explorer shortcut.
Once you have your new Explorer shortcut, right-click it, then click Properties. In Windows 2000, you'll see this command line: %SystemRoot% \explorer.exe. In Windows 98, you'll see something such as the following: c:\windows \explorer.exe /n, /e, c:\.
This latter command line hints at the parameters that Explorer supports. The syntax of these parameters is as follows (I've eliminated the path for brevity's sake): explorer {/n} {,/e} {,/root, x} {{,/select}, y}.
The /n switch opens a new Explorer window, even if an existing window is open. The /e switch specifies a two-pane Explorer view, rather than a single pane. Note that commas are necessary between parameters.
The /root and /select switches make things interesting. You use /select -- followed by file, folder, or computer name y -- to highlight the selected object and put Explorer's focus on its parent. You use /root in the same way, followed by x, to open Explorer with object x fixed at the "top" of the tree view.
You would typically use the /select switch to make Explorer start with a specific folder or drive selected. By contrast, the /root switch, which is used less often, makes Explorer display a window in which the "root" you've specified is as high as you can go.
Here are some examples. The following command line would start Explorer with the Docs folder open and the file Today.doc selected: explorer /n, /e, /select,c:\docs \today.doc.
Perhaps you don't need to select a specific file but only want Explorer to focus on a different drive letter than the default. In that case, you can dispense with the optional /select switch and simply name the drive.
For example, the following command line would cause Explorer to open with its focus on the D: drive, which might be your CD-ROM or other device: explorer /n, /e, d:\.
The following /root command would start Explorer with Server1 at the top of the tree: explorer /n, /e, /root, \\server1.
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Most, if not all, the above applies to XP as well.