The easiest way to do this is to create a DOS batchfile called "EpocPrint.Bat" on your Windows95 desktop. Inside it put just the single line Copy C:\epoc32\wins\c\printfile lpt1: (Change the drive and printer port letters if necessary).

It is now easy to print from the emulator. In the emulator simply print to file using the driver that is most appropriate for your printer (the emulator will default to using file "printfile" in the root of the virtual internal disk), and double-click on the batchfile on your desktop. It should then print to your desktop printer.

Thanks to Alan for this.