Installing New Instances in SQL Server 2008

I want to Install New SQL Server 2008 Instance.

I want to know whether Installing New Instance would create any problem to already installed instances. I have SQL Server 2005 Instances transformed to SQL Server 2008 and It has many databases, so If i installed SQL Server 2008 New Instance will i be able to see all my previously installed instance databases?

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No, a new instance will not interfer with already installed instances.

If you install more than one instance of SQL Server, only one of them can be the default unnamed instance, all other instances has to be named instances. So if you already have an unnamed instance, any new instances has to be named instances.