Moving and storing user mailbox

We are running Exchange 2000 w/ Outlook 2000, and would like to store / archive a users email to a server within the domain. This is intended for employees that leave the company, and is to be stored for at least a year. What is the best way to perform this, and is it possible to delete the ex-employees user and email account, and still store and be able to access the email later on?

Thanks,
Dan