Crystal Reports version 7 and 8.5 can be installed on the same workstation at the same time. Version 8.5 default installation path is C:\Program files\Seagate Software, which does not override version 7 installation (unless version 7 was installed in the same directory).

To be sure that version 8.5 does not overwrite version 7:
1. Uninstall Crystal Reports version 7
2. Install Crystal Reports version 8.5
3. Reinstall Crystal Reports version 7