After hunting the net on this subject I eventually came across the following solution.
(Thanks for hifiblog.com).

1. Install iTunes on the PC

2. Create a zero length iTunes Library.itl file in the /Users/mick/Music/iTunes folder on the mac:

touch /Users/mick/Music/iTunes/iTunes\ Library.itl

(The backslash is needed to create a space in the file). This file is created on the mac as it’s easier to create a zero length file on the mac than on the PC.

3. Copy the contents of the iTunes folder:

 /Users/mick/Music/iTunes

to the PC folder:

 C:\Documents and Settings\mick\My Documents\My Music\iTunes

4. Edit the file …\iTunes\iTunes Music Library.xml and amend the file locations replacing:

file://localhost/Users/mick/Music/iTunes/

with

file://localhost/C:/Documents%20and%20Settings/mick/My%20Documents/My%20Music/iTunes/

using your favorate editor. Depending on how much music you have in iTunes depends on how big this file it.

5. Start up iTunes on the PC.

Under normal circumstances iTunes doesn’t read the .xml file instead it uses the datafile iTunes Library.itl. Now because we have created a zero length version of this file, iTunes thinks this file has become corrupt so it recreates it using the iTunes Music Library.xml file as it’s source.