Hmmm ... did you remember to transfer the system files? Here's the procedure that I remember doing with my CF card:
1) Partition the CF card with FAT32
2) Boot the Win98 disc with CD support (MSCDEX)
3) FORMAT C: /S
4) Copy the CAB files into a folder on C:
5) Launch SETUP.EXE from the folder to install Win98.
Yesterday, 11:56 PM