Can we publicly share Outlook folders in Outlook 97, without using Microsoft Exchange Server?
The easiest solution for you would be to upgrade to Outlook 2000 and use Net Folders. That will let you easily share a folder between two (or more) Outlook 2000 users.
With Outlook 97, you have very few options outside of Exchange. Placing the .PST file on a network share will allow both users to access it...but not at the same time.