Below is an excerpt from Philips Support Desk e-mail. Arrived too late for me as I already replaced their Drive with Iomega (up to now much better!), but hope will help to someone (honestly, I didn't try this)
"..This ZIP-file will bring a list of files, including driver, flashtool and manual. You should also upgrade the firmware version of your device with the latest flashtool available here. Manual is included as well. After installing the hardware, please install Windows 98 compatible CD writing software and the device can be used as a writer. You can use Easy CD Creator 5 by Adaptec (www.roxio.com) or NERO 5 by Ahead (www.ahead.de)."
Please, use it.