Sharing folders with VirtualBox, Windows 7 Host and Ubuntu 9.10 Guest
Install the Guest Additions for the guest OS and configure the shared folder(s) on the host OS. You'll find these options in the Devices menu.
I had a lot of trouble with this, but found a pretty easy workaround. It involved setting up a second network adaptor for the guest os. Have 2 adaptors on system: 1> NAT and 2>Host-Only Adapter connected to VirtualBox Host only network adaptor (this was selected from dropdown list). This allows two things...1 maintains connection to the internet for updates, etc., and 2 allows guest to be visible on workgroup in win7 host OS. Now you can share folders from the guest OS to windows =>since I couldn't get it to work the other way around. This was useful for me as I rarely transport things from vista to ubuntu anyway. With mindterm installed on Windows and an openssh-server installed on the guest OS, I was then able to enable two-way file tranfers between win7 and ubuntu, which was really ideal, using the SFTP plugin.
Here is your perfect solution with just "NAT".
Quoted verbatim from http://blogs.oracle.com/tao/entry/virtual_box_shared_folder_between:
Add folder(s) to shared folder menu.
It is important to write down the folder names at this step.
Boot guest system, open a terminal and type in the following commands
sudo mkdir /mnt/tao_xp sudo mount.vboxsf TAO /mnt/tao_xp
The shared folder would be accessible now: read & write!