You have to enable universe packages first. It is also recommended that you use the official winehq ubuntu package:
1) Open a terminal
2) Open /etc/apt/sources.listsudo gedit /etc/apt/sources.list
3) Uncomment (or add) following lines:deb edgy universe
4) Add this line:deb edgy main
5) Close gedit. Update and install wine and cabextract:wget -q /387EE263.gpg -O- | sudo apt-key add -
sudo apt-get update
sudo apt-get install wine cabextract
6) Download IEs 4 Linux and installwget
tar zxvf ies4linux-latest.tar.gz
cd ies4linux-*
./ies4linux
Note for Dapper users: if you use ubuntu dapper, replace edgy with dapper on lines above. Note for Feisty users (7.04): if you use ubuntu Feisty, replace edgy with feisty in the lines above. Also replace gedit with kedit if running Kubuntu instead of Ubuntu.[@more@]