This is a root file system for Slackware 12.1 for use with User Mode Linux.

Created by Dave Houlden (david.houlden@gmail.com). 9th November 2008.

The file system does not contain a complete installation of all Slackware 
packages. Extra packages can be installed as needed using the Slackware 
package utilities.

I created root_fs_slack12.1 as follows.

dd if=/dev/null of=root_fs_slack12.1 bs=1024 seek=$((1024*200))
mke2fs -j root_fs_slack12.1

mount -o loop root_fs_slack12.1 /mnt/hd

Run installpkg with -root /mnt/hd -menu -ask and installed the following.

aaa_base-12.1.0-noarch-2
aaa_elflibs-12.1.1-i486-1
aaa_terminfo-5.6-noarch-1
bash-3.1.017-i486-2
bin-11.1-i486-1
bzip2-1.0.5-i486-1
coreutils-6.9-i486-1
dcron-2.3.3-i486-6
devs-2.3.1-noarch-25
dialog-1.1_20070930-i486-1
e2fsprogs-1.40.8-i486-1
elvis-2.2_0-i486-2
etc-12.1-noarch-4
findutils-4.2.31-i486-1
glibc-solibs-2.7-i486-10
glibc-zoneinfo-2.7-noarch-11_slack12.1
grep-2.5-i486-3
gzip-1.3.12-i486-1
inetd-1.79s-i486-8
iputils-s20070202-i486-2
kbd-1.12-i486-2
less-394-i486-1
logrotate-3.7.4-i486-1
mailx-12.3-i486-1
module-init-tools-3.4-i486-1
net-tools-1.60-i486-2
network-scripts-12.1-noarch-1
openssh-5.1p1-i486-1_slack12.1
openssl-solibs-0.9.8h-i486-1_slack12.1
pkgtools-12.1.0-noarch-7
procps-3.2.7-i486-2
sed-4.1.5-i486-1
shadow-4.0.3-i486-15
sysklogd-1.4.1-i486-10
sysvinit-2.86-i486-6
sysvinit-scripts-1.2-noarch-20
tar-1.16.1-i486-1
udev-118-i486-3
util-linux-ng-2.13.1-i486-1

cd /mnt/hd/dev
mknod ubda b 98 0
mknod ubda1 b 98 1
mknod ubdb b 98 16
mknod ubdb1 b 98 17
mknod ubdc b 98 32
mknod ubdc1 b 98 33

Create /mnt/hd/etc/fstab
/dev/ubda       /               ext3    defaults                1   1
none            /proc           proc    defaults                0   0

Add line to /mnt/hd/etc/initab
c0:1235:respawn:/sbin/agetty 38400 tty0 linux

Add line for tty0 to /mnt/hd/etc/securetty.

ldconfig -l /mnt/hd/lib/*

chmod a-x /mnt/hd/sbin/hwclock

umount /mnt/hd and start uml using new filesystem. 
Login as root and set password to root.

Run timeconfig and set the timezone to Europe/London. You can rerun timeconfig
if you want your system to run with a different timezone.