The best answer depends on whether this will be for internal e-mail only or for both internal and external (Internet) mail. It will also depend on whether your users will get their mail only from Outlook through the company network or whether you will want them to be able to access their e-mail from across the Web or by VPN to the company network.
If it will serve both internal and external, you will need an Internet connection of some type and some method of resolving DNS queries. Generally, an ISP will be the best way of serving both needs and the equipment needed on your end will depend on what type of connection you have to them. Many ISPs will supply the router on your end as part of the service. That's all you need for the basics.
You could also consider having your ISP host a mail relay that would hold mail in case your server is down and if you want to allow your users to use Outlook Web Access to get their mail from across the Internet, you will need an IIS server somewhere on your system that is accessible to the Internet.
A proxy is not necessary but you probably WILL want to add a firewall.
regards!
paul