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The following knowledgebase will help you to resolve an issue where an exchangeV1 Public Folder may not replicate to a new server that is running Microsoft Exchange 2007 Server or Microsoft Exchange Server 2010.
During transactions from Exchange 2000/2003 to Exchange Server 2007 or Exchange Server 2010, an exchangeV1 Public Folder may not replicate to a new Exchange 2007 Server
Review the explanation of "Understanding EXOLEDB Default Folders" article,