This is a process known as "slipstreaming," where you take the files needed for a Win2K installation and inject both the SP2 and post-SP2 fixes into it. The problem is that it's not always reliable, especially on machines where a lot of custom drivers are installed.
Also, critical updates are published regularly, so you will need to add them as they come out.
The best approach, if you have a lot of the same make and model of machine,
is to create a disk image using SYSPREP and then replicate it to all the
machines you want to install Win2K to.
This was first published in June 2002