i have a photoshop 7.0 is it the OLD version? is there any way to upgrade it?
 
if yes where can i find the site to upgrade and what is CS 4? it that the upgrade version of adobe photoshop 7.0?

Welcome to CrXP
 
Yes , Photoshop 7.0 is an old version.You can get the upgrade package for Photoshop from Adobe's official site (Link).
 
CS stands for Creative Suite, it's a suite that contains many of Adobe's software packages.Photoshop is also included in the package.Actually, after the 7th version , Photoshop versions' are stated through series of CS among which CS4 is the latest one.