Microsoft announced the release of Exchange Server 2010 today at Microsoft TechEd 2009 in Berlin. The release marks the first version of Exchange Server designed for the cloud, and provides customers the option of deploying it on-premises, the way Exchange Server has always been deployed, or use it as a service hosted by Microsoft, or a combination of the two.
This version of Exchange is just really cool stuff!!
For more information, you can read this article on msexchangeteam.com