I had purchased a computer game on Ebay and didn't really pay attention to what it was. I got it in the mail and it is a UK release. This isn't the first time owning an EU PC game, but I also haven't tried to use any of the others. The box has a disclaimer and I am wondering if it is legit, or just there for legal reasons, it says:

"Not for sale in North America or Canada - this game will not install on North American or Canadian systems."

The system requirements only have Windows 95/98 listed.

So is it possible that this particular game will not install onto a US version of Windows 95/98 and required an EU version, or at least an EU LIP? Or is this text just here to make sure that retailers or distributors of the time did not try to import this version to North America?

Probably just for legal reasons.

Win95 had a Pan-European version, but i think it was only a localisation thing.

Best way is to check the setup executable/files and see if it makes any checks regarding system locale. Game/program boxes can lie!