Answer is - you can't.

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Milly Staples [MVP - Outlook]
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After furious head scratching, gargon1 asked:
| How do I setup a shared calendar which is located in a public folder
| on my exchange 2003 server to start automatically when the user
| (0utlook 2003 sp1) starts outlook on their pc? Tool menu > Options >
| Advanced only listed the local folder.
http://www.outlook-tips.net/archives/2003/20030812.htm
specifically
outlook.exe /select "outlook:\\Public Folders\All Public
Folders\calendar_folder"
(you can get the path you need from address field on the web toolbar)

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Diane Poremsky [MVP - Outlook]
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> How do I setup a shared calendar which is located in a public folder on my
> exchange 2003 server to start automatically when the user (0utlook 2003
> sp1)
> starts outlook on their pc? Tool menu > Options > Advanced only listed the
> local folder.