creating new partition from free space?? without loosing data?

I just bought a new motherboard which lacks any kind of IDE drive support. so my current IDE drive [with win XP installed] is useless now.


i am currently using 2 HDDs, 40GB IDE and 1TB WD green SATA drive

partitions::

HDD1 [IDE]

C: 20GB [free 500mb]
D:18GB [free 0GB]

HDD2 [SATA]

E: 600GB [free 230GB]
F:330GB [free 120GB]


i want to resize the partition F [with 330GB total capacity and 120GB free]

to make a partition of 50GB [from 120GB free space] without loosing any data on the drive.

is this possible??

plz help asap