Yes. It's called FOLDER REDIRECTION. Since the documentation is such I won't copy into this small space, I'll supply a GOOGLE which will lead you to documentation on the subject.

In closing, this subject is covered in the Windows 2000 Server Resource Kit. I know that many just need the clue as to what this feature is called so they can consult such documentation.

A Google -> http://www.google.com/search?&q=%22WINDOWS+2000%22+FOLDER+REDIRECTION