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Yes. Each MAC address (each network card has its own MAC address) requires an individual IP address on a network.

In XP you can bridge the connections in Network Connections, but I have never actually figured out why this is preferrable (perhaps if each card is connected to separate networks). This however on the same network will show no improvement unless ran thru a different router using a different address with a different subnet as XP will only default to one card or the other and will not use both at the same time.

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Q: If you have installed two network cards in your PC will your PC have two IP addresses?
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