Yes CPU is AMD ATHLON XP2400+ 266MHZ FSB 256Cache Thoroughbred.
Found various references on Google including...
Award BIOS Beep Codes
Repeating High, Low beeps - CPU failure (possible cause Bad processor)
Award BIOS Beep Codes
Repeating High/Low - Either the CPU is not seated properly or damaged. May also be due to excess heat. - Check the CPU fan or BIOS settings for proper fan speed.
RC