Anilrgowda

You can copy your Outlook Bar or Navigation Pane shortcuts to another computer (or another profile) by copying the *.xml or *.fav for your profile. Rename it to match the profile name it's to be associated with. Obviously, if the items on the bar are not identical, from the name to the file path, the shortcut won't work and Outlook will complain.
Note also that the FAV file, used for Outlook Bar shortcuts, is fragile and it may not work on a different computer. The XML, used for OL2003's Navigation pane, is much better about moving, provided the file paths match.
You'll find these files in C:\Documents and Settings\username\Application Data\Microsoft\Outlook. You can easily access it by pasting %USERPROFILE%\Application Data\Microsoft\Outlook in the Address bar of your browser or Windows Explorer. (Win2000, WinXP)
Bonus tip: If you upgraded to Outlook 2003 and have a FAV file in the folder, delete it. Outlook 2003 doesn't use it and the XML will behave better with it gone.
To learn more about the files Outlook uses and where they are stored, visit Outlook & Exchange/Windows Messaging Backup and Dual-Boot.