With the release of SP2 for Exchange 2003 we have published the support policy for Exchange Server 2003 running on hardware virtualization software KB article:

http://support.microsoft.com/?id=320220

Support policy for Exchange Server 2003

Microsoft supports Exchange Server 2003 running on hardware virtualization software (virtual machines) only when all the following conditions are true:

The hardware virtualization operating system is Virtual Server 2005 R2 or a later version

  • The version of Exchange Server that is running on the virtual machine is Microsoft Exchange Server 2003 Service Pack 2 (SP2) or a later version
  • The Microsoft Virtual Server 2005 R2 Virtual Machine Additions are installed on the guest operating system
  • Exchange Server 2003 is configured as a stand-alone server, not as part of a Windows cluster
  • The SCSI driver that is installed on the guest operating system is the Microsoft Virtual Machine PCI SCSI Controller driver