How to adjust emulator to read my localhost?

[Bishoy George]

Dear All,
I use visual studio 2005 Pocket PC 2003 SE Emulator OR Smartphone 2003
SE Emulator.

I have a mobile asp.net web site that is hosted on my
http://localhost/Mobile/ . This site is working very well on Windows IE
while when I write this url on the Emulator IE, it gives me this response:
Smartphone 2003 SE Emulator: "Error. Unable to connect. Verify your dialup
or proxy settings are correct, and try again."
Pocket PC 2003 SE Emulator: "The requested URL was not found"

My Question is: How to adjust emulator to read my localhost?

Thank you.
Bishoy