No! pst-files that has been created in Outlook 2003 can't be used in a
previous version. You need to create a new pst-file
File | New | Outlook Datafile
in Outlook's old format (Personal Folder (.pst) for Outlook 97-2002).
Then copy all addresses you need in this file. Now you are able to open
this pst-file in an earlier version of Outlook.
No. Microsoft neglected to add that useful feature to Outlook 2003.
You must first create a new PST file In "Outlook 97-2002" format, then drag
and drop what you want to transfer into that file.
Microsoft has now deftly eliminated any reason ever to use the export
function for transferring Outlook data.