Parallels Menu (in OSX)--> Actions --> Run Parallels Compressor
Just follow the prompts. Depending on the size of your .hdd file you could expected it take anywhere from 2 - 10 hours or more to perform.
If you need more assistance please read the User Guide:
http://www.parallels.com/files/upload/Parallels_Desktop_for_Mac_User_Guide.pdf
How large is your .hdd file or your Parallels folder?
Last edited: Nov 17, 2007