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EXOLEDB Overview

Exchange Server 2007 provides a new, high-performance OLE DB provider that you can use on the local server to access Exchange store items: the Exchange OLE DB (ExOLEDB) provider.
Through the ExOLEDB provider, programmers can access the Exchange store using OLE DB, Microsoft ActiveX Data Objects (ADO), and Collaboration Data Objects (CDO).

The above article shows the relationship between ADO, CDO, OLE DB, the ExOLEDB provider, and the Exchange store.

ExOLEDB provider is a server-side component, and is therefore used only to access public stores and mailbox stores that reside on the same server.
We can access data on the server remotely by wrapping functionality into Component Object Model (COM) components, which can be utilized by ASP and other Web applications.
ExOLEDB provider is also ideal for use in COM+ components and Exchange store event and workflow sinks that run on the server.
To access remote public stores and mailbox stores, use the WebDAV protocol, MAPI, or CDO 1.2.1.