Retrieve mail via terminal services

Here is the proposed set up: Two servers, one domain.
One new server, running Windows 2000 Server, with the data and Office applications – 5 W2K desktops accessing this via Terminal Services.
The other, old server functions as a mail server, usingthe Exchange 5.5 module of Small Business Server.
Would the users be able to run Outlook through Term/Serv and retrieve their mail from the SBS box?
{if this sounds strange, it is a stopgap until budget allows for purchase of separate Exchange software and licenses.)