I was using Netscape communicator for e-mails from 1998 - 2002. Since
then, I started using MS Outlook for e-mails. When I bought a new PC
in 2003, I archived all of the Netscape e-mails from the old PC to an
external hard drive. The e-mails were in different folders according
to the author or subjects.  Now, I have a need to review some of the
Netscape e-mails that I created in 1999-2000.  I tried to open the
e-mail with Netscape 4.7 version with no luck.  I had changed the
e-mail file location to the external hard drive as well.

Is there way for me to convert the emails created in Netscape to
Outlook?  If not, how do I read these old e-mails?

By far the easiest way to solve your problem is to use Mailbag
Assistant from Fookes Software
(http://www.fookes.com/mailbag/index.php). The program costs about
$40, but there is a 30 day trial available. It will open, let you
search through, and assist you in importing the emails into Outlook as
well as many more things.

If you do not want to spend the money, I would suggest importing the
old Netscape mail via Thunderbird to allow searching, viewing, and
printing, following these instructions:

http://kb.mozillazine.org/Migrate_from_Mozilla_Suite_or_Netscape_to_Thunderbird

The MboxImporter extension should be the easiest if you are not a
computer expert. The mbox files should the name of the folder without
any extension on your backup of you Netscape email files.

Then, if you wish, you can follow these instructions to import it into Outlook:

http://kb.mozillazine.org/Export_mail_into_Outlook_%28Express%29_or_Apple_Mail

Note: Some methods and extensions such as AutoSave have not been
updated to work in recent versions of Thunderbird. Also note that
since the Netscape files themselves are mbox, you may be able to use
some of these instructions directly on the Netscape mail files.