Error loading Windows 7 on windows 8 host

[timbuktu]

win 7-2012-12-20-16-25-52.log

error log

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Hi
I'm trying to load Windows 7 on virtualbox --Windows 8 Host. I'm getting the error. I have attached the log file.. can someone help with this?

I launched the virtual mode as administrator

[noteirak]

00:00:02.252711 Host RAM: 1015MB total, 408MB available
00:00:02.713686 RamSize <integer> = 0x0000000020000000 (536 870 912, 512 MB)

You are assigning more memory to the VM than you have availble on your host, this will not work.
Also, don't expect Windows 7 to work good unless you give it 1024 Mb RAM.

Either free some RAM or get some.

[mpack]

Win8-32bit recommended minimum RAM is 4GB, specified min is 1GB. Win7 has similar requirements. Attempting to run both at once in 1GB is a no hoper.