kernel panic - not syncing: attempted to kill init!

[asif2k]

I have been running fc2 server on my box. I tried upgrading to fc3, fc4, fc5 server. I was able to upgrade to fc5 server. Finally, I decided to give a shot at it. Now, I get an error when it boots up. I have backed up all my data already. Anyone can help me find a solution if possible. Your help is appreciated.

kernel panic - not syncing: attempted to kill init!

thanks in advance

[asif2k]

root (hd0,0)
Filesystem type is ext2fs, partition type 0x83
kernel /vmlinuz-2.6.15-1.2054_FC5 ro root=LABEL=/ rhgb quite
linux-bzimage, setup=0x1e00, size=0x16eb71,
initrd /initrd-2.6.15-1.2054_FC5.img
linux-initrd @ 0x17eff000, 0xe0baa bytes,

Uncompressing linux... OK, booting the kernel
agpgart: Unsupported SiS chipset (device id: 5600)
Red Hat nash version 5.0.32 starting
Kernel panic - not syncing: Attempted to kill init!

this is what i see on the screen.