Okay I recently upgraded to Photoshop CS4, however I am not able to use "Select All > Modify > Contract" anymore. This did work in Photoshop CS3. And the problem is I use it a lot.

Any ideas on how to do the same thing? Or record an action?
I never created an action before, so some help with this would be very nice.

Thanks.

what u can do is if u have lots of layers merge it all into one layer then ctrl + left click the thumbnail and go to select > modify > Contract .. I just did it right now and it worked