This is a known problem in Windows 95 OS, acknowledged by Microsoft. Please see the Microsoft Knowledge Base article number Q171284 for specific details. You can work around with this issue by:
1. Avoid leaving a modem PC Card in your notebook PC while rebooting. Unplug the PC Card modem while your computer is turned off. Then turn on the computer, and after Windows 95 starts, reinsert the PC card.
2. Create 2 hardware profiles. One includes modem card and the other includes networking card only.