Edbutil and eseutil provide essentially the same funtionality.Edbutil was the defrag engine in exch 5.0 version.It has been upgraded to eseutil in exch 5.5 and exch 2000.Ordinarily when the maintenance window opens for online maintenance is when eseutil is at work with defrag.The only difference in online and offline is online does not recover lost disk space and shrink the database.That is why you would do offline defrag after you have deleted lots of mailboxes.
Sequence:
1)Dismount the databases you wish to defrag
2)cd to exchsrv\bin directory.This is root\program files\exchsrvr
3)type eseutil /? to retrive options
4)type eseutil /d to defrag
5)If I remember correctly console will show all databases.
6)choose the number
7)Start defrag
8)Mount databases