When you first install Exchange Server 2003, you have a default Public Folders store that is connected to a default Public Folder hierarchy. However, you might want to create your own separate Public Folder Tree for certain uses, such as a store for Internet newsgroups or for company specific tasks.
Creating a new Public Folder Tree requires three steps:
Creating a new public folder tree
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Start the Exchange System Manager.
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Go to the Folders branch.
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Right-click the Folders, and select New, Public Folder Tree.

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Enter a name for the public folder root (e.g., New PF Tree).

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Click OK.
Creating the new public folder store
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Start the Exchange System Manager.
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Expand the Servers, Server name, First Storage Group.
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Right-click the First Storage Group (or another storage group if you have one) and select New, Public Store.

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On the General tab, enter a name. This name should match the public folder root, so, in our example you'd enter New PF Store. Under "Associate public folder tree," click Browse, and select the folder you created.

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Click OK.
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On the Database tab, the system creates default names based on the name you entered, so you can leave these. All other tabs are optional.
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Click OK.
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The system will display a dialog box to confirm the creation and ask whether you want to mount the new store (mounting makes it usable).

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Click Yes.
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Click OK to the mount confirmation.

Connecting the Public Folder Tree to the Public Folder Store
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Start the Exchange System Manager.
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Go to the Folders branch.
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Right-click the root folder branch you created.
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Select Connect To from the context menu (if this option isn't available, stop and restart the MMC Exchange System Manager snap-in).

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From the displayed list, select the Public store required and click OK.

You now have a usable new public folder store but remember it can only be accesses via a Web Browser or EXIFS.