Hi,

Win95 supports double booting with old version of DOS. For that you must get IO.SYS, MSDOS.SYS, COMMAND.COM, AUTOEXEC.BAT, and CONFIG.SYS files from your old DOS version and rename them to IO.DOS, MSDOS.DOS, COMMAND.DOS, AUTOEXEC.DOS, and CONFIG.DOS. Then copy those renamed files in the root of C: drive and make sure your MSDOS.SYS file (from Win95) have in the [Options] section the line BootMulti=1.
Now you can press F4 while booting (or press F8 and select Booting with Old DOS Version) and will boot in your old DOS version.

BUT BE CAREFUL! If you're using OSR2 version of Win95, it has bug in the boot sector and can't restore after booting into the old DOS. I have the fix for that bug. If you need that fix e-mail me.

Good luck, Igor M.