STOP error message during OS reinstall...

HELP ME PLEASE....
i had some problem with my windows XP Pro, so i tried reinstalling the OS. that is where my laptop stuck up with this BLUE BACKGROUND STOP Error Screen after booting and after setup of OS starts..!!!

A prolem has been detect and Windows has been shutdown to prevent damage to your computer.
If this is the first time you've seen this stop error screen restart your computer.If this screen appear again, follow these steps:
Check to be sure you have adequate disk space.If a driver is identified in the stop message, disable the driver or check with the manufactuer for driver update
Try changing video adapter.
Check with your hardware vendor for any BIOS updates.Disable BIOS memory options such as caching or shadowing.
If you need to use safe mode to remove or disable components,restart your computer, press F8 to select.
Advance startup options, and then select safe mode.
Technical information:
xxx STOP: 0x 0000008E(0x C0000005, 0x F7418CAD, 0xF6FDD7E4, 0x00000000)
setupdd.sys - Address F7418CAD base at F73EC000,Date Stamp 41107C8F.

now am not able to reinstall nor repair the OS..
before showing the above error message, during the setup process, it says there is no disk in the drive or no drive is found..
i had many important data on the other drives.. so please help me retrieve the data back...