(taken from my previous blog)

I was trying to reduce the size of the log in the db for MS SQL 2000 recently. Tried shrinking via sql manager but to no avail. Google around and finally found it.

use <db_name> backup log <db_name> with truncate_only
dbcc shrinkfile (<db_name>_log, truncateonly)

transaction Log is down to 1MB after executing the above SQL statement in SQL Query Analyzer