Yes, it will work. However you will need to install the operating system. Put the "Restore CD" in the CD drive and reboot the computer. When and if the screen says "Press button x for menu from CD", press the appropriate button. Follow the instructions from there to install a new Windows XP.
It would also help if you have the drivers CD that came with the laptop, or you will have to download new drivers from the web if Windows XP installs the network connection on its own.
It would also help if you have the drivers CD that came with the laptop, or you will have to download new drivers from the web if Windows XP installs the network connection on its own.