Not using Outlook. :)
A lit of utilities is at http://www.slipstick.com/addins/calendar.htm -
WS:Repeat Appointment might be the best option
(http://www.slipstick.com/addins/calendar.htm#info)

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Diane Poremsky [MVP - Outlook]
Author, Teach Yourself Outlook 2003 in 24 Hours
Coauthor, OneNote 2003 for Windows (Visual QuickStart Guide)
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> Does anyone know how you can skip a holiday when scheduling recurrence
> meetings?