I am currently using LimeWire 4.12.6 on Windows XP.

I switched computers a few months ago, however my company EDP guy transfered all my data from my old comp to my new comp. Since Limewire wasnt installed on my new comp, I had to download and install it, which i did and it works fine. I used it to download some music too.

Recently I installed ITUNES on my computer. In the left hand navigation panel on Itunes, I got two folders under SHARED tab, both showing the same name - Owners Limewire Tunes. In one there are my recently downloaded songs etc. and the other has all the stuff from my old comp which I had completely forgotten about. Now i can play the songs and videos from this old folder in ITUNES but I am not able to transfer any of the songs/videos to my Itunes library and hence to my IPhone. I thought i would look for the folder with my old files on my computer, so I could copy/paste them to my Itunes folder.

My problem is I cant find the folder with my old files anywhere on my computer. The new files that i downloaded recently show up in my Limewire as well as in the Shared folder on windows but the old ones are no where to be seen even though Itunes can play them. How do I find these old files. Please help!!

That playlist is directing iTunes to find them from the LW download folder. So ... chances are that's where they are on the old computer.
For fast & easy access, go to your LW Library window, select Saved Files folder & press the Explore button. Sample image here: Using Library Explore button to access downld folder (click on link) & the folder will open up for you.

You could also search .mp3 on all drives of your old computer just in case.

Old computer? My old computer and new one are not connected in any way, thru a network or something. All these files are showing up on my new computer. When i right click on any of the files in Itunes under the Shared tab, and see File info, it does not show the location of the file, even though i can play it in Itunes. However, i cannot transfer it to my library in Itunes.

I tried your suggestion of going to the Library in Limewire and clicking on Saved files and then the Explore button. But this only opens up a folder showing the new files i had downloaded recently on this computer. There is no trace of the old files or where they are being shared from.

Like i said earlier - My Itunes under the shared tap shows 2 lists. Both are named Owners Limewire Tunes. One has the songs i recently downloaded on this computer and the other has the songs from the old computer. When i followed your suggestion as above i could only get to the folder where the newly downloded files are, which i already knew.

Any other suggestions??

Yeah ... you won't be able to play songs from the old playlist then. I'd search your new computer for .mp3 to see where your old music songs are. You said all was transfered right. IF not, then go back to the old computer & copy them across via external drive, cd-rw, ipod, etc. however you can.