outlook supports dual time zones - that's the best you'll do in outlook.

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Diane Poremsky [MVP - Outlook]
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> For travelling in different time zones over longer periods of time (two –
> three weeks) it would be beneficial to have a tool allowing for scheduling
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>
> http://www.microsoft.com/office/community/en-us/default.mspx?mid=7b9c400a-359f-4
292-921b-0d2915d14cd8&dg=microsoft.public.outlook.calendaring