ASP and ASP.NET can run side by side on an Internet Information Services (IIS) Web server without interference; there is no chance of corrupting an existing ASP application simply by installing ASP.NET. Only files with an .aspx file name extension are processed by ASP.NET; files with an .asp file name extension will continue to be processed by the existing, unchanged ASP engine. You should note, however, that session state and application state are not shared between ASP and ASP.NET pages.
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http://msdn.microsoft.com/en-us/library/dddsc60w%28v=vs.71%29.aspx