Your lilo.conf may look like this:

boot=/dev/hda
delay=20
vga=normal
root=/dev/hda1
read-only

image=/vmlinuz
label=linux

To add a new boot entry to your lilo.conf, do the following. First, copy /usr/src/linux/arch/i386/boot/bzImage to a file on your root partition, such as /vmlinuz2. Once it's there, duplicate the last three lines of your lilo.conf and add them again to the end of the file... we're almost there...