I have the Windows 7 Home Premium 64bit version and can't install - Berlitz English version is compatible with Windows 98. When I try to install displays the following message: Windows version of incompatibility.
If it's a Windows 98 application, then the chances to install it on Windows 7 are practically 0. You will need to install Windows XP through a virtual box or using the XP Mode. I personally recommend Windows XP Mode because it's easier than getting through errors and issues with Virtualbox, but that doesn't mean you can't try.
XP Mode: http://windows.microsoft.com/en-us/windows7/install-and-use-windows-xp-mode-in-windows-7
Requirements for VirtualBox: