There really is no easy way to do this.
You have two options that I'm aware of.
1. If you have Nero: rip the dvd to the hard drive, use one of the many free MPG encoders to re-encode the entire dvd, then use Nero Vision to convert said MPG back to a dvd. Downsides: major time investment, and quality loss.
2. Go to wal-mart, pick up a $40 DVD player that can do PAL & NTSC.
Option 2 is what I'd recommend. Most of the newer DVD players seem to be able to properly playback PAL.
On thinking about this somemore....does your computer have TV-out? If so, you could play it on the PC and pipe it to the tv...
BenQ 1655, BenQ 1620, LG 4167, Plex PX-716SA, Samsung SH-S162L, SH-S182M, Pioneer 111D, Lite-On SHM-165H6S and 1.9TB of HDDs to feed 'em and an X2/4800 to crunch for 'em.