Increasing swap memory

Boot using the Live CD, go to System > Administration > Partition editor
Resize some other partition and increase your swap partition.
Click "Apply" to actually do the changes.

NOTE that repartitioning can cause loss of data.
NOTE that it will take a loooooong time to resize/repartition the drive, depending on how big the partitions are etc.
*DO NOT* mount your partitions while you are formatting - It's better if you leave it do its magic there, so don't play much with the live cd.

> NOTE that repartitioning can cause loss of data.
I mean it can cause loss, but it hasn't caused any problems when I tried it 5-6 times so far (personal experience).

How abt creating a swap file & use it for swap memory.
Will this cause any performance issues....

You mean like.. make a temporary swap file just for the installation? Personally, I have no idea, it might work :)
You could try and do that, but having a 1-2gb swap partition is generally recommended.

I need instructions or links abt creating a temporary swap file.
Thanks very much for your support...

I tried Partition Editor & resized my fat32 partition to create space for swap partition. I then created a swap partition using the remaining space. It showed up two swap partitions in my live CD as i dint do anything with my old swap partition. But i m not able to view my swap partition & it is showing up as 0bytes of swap in normal boot.

Your assumption is correct.

I searched launchpad & found a similar issue as mine(Question no.43729). Initially i thought i thought of not taking risk & raised up a question thinking that my question may be different. Then i thought of making a try & it worked out.

Thanks Savvas Radevic, that solved my question.