I posted a topic a few weeks ago on the cause of the hangups in win95 during shut down while connected to a network.Although I recieved some good answers none of them helped resolve the problem.
After some more research I found this resolution.
Problem occurs on a win95 machine that has IE4.0 and mapped network drives.
The workaround is go to the control panel and then add\remove programs,then click on IE4.0 in the installed programs list and click add\remove,click remove the windows desktop update component but keep the IE4.0 web browser and then click ok.This should resolve the problem.
Another workaround is to install IE4.01 sp1 if you have it.
Hope this helps,found it on technet.