Can we Install another Instance of SQL Server 2008 R2 32 bit on machine where SQL Server 2008 R2 64 bit DEFAULT INSTANCE is already installed ?

Dear Sir,

On Windows Server 2008 64 bit,  SQL Server 2008 R2 Standard Edition 64 bit with Collation Latin1_General_CI_AI and Log on system asNetWork Service is already installed with Default Instance.

So can I install a new Name Instance of SQL Server 2008 R2 Standard Edition32 bit with Collation SQL_Latin1_General_CP1_CI_AS and Log on System asLocal System on same server and will it impact on existing database.

Please reply.

Thanks,

Sanjay Shah