# First Load the ipchains kernel module . Required only if iptables is compiled as a module
/sbin/modprobe iptables
insmod iptables

# MASQ the full network
/sbin/iptables -t nat -A POSTROUTING -j MASQUERADE

# List the rules
/sbin/iptables -L

This would look after all the entire data traffic from the local network to the internet.

Finally add this to the startup -

$ vi /etc/rc.local
Add the line
/etc/rc.d/init.d/rc.fw

This ensures that the settings are retained after a reboot also.

After rebooting the server would do all the routing functions for the entire network.

On the client side all that is required is to set the default router/gateway as the server's IP i.e. 192.168.1.1. The entire network is now set to share the internet connection.