I found the answer on a Microsoft forum.
http://www.microsoft.com/communities/newsgroups/en-us/default.aspx?dg=microsoft.public.outlook.general&tid=1d77b27a-b0a6-4101-b252-35ca2fea2bb0&cat=en_US_31ae1f62-930c-4298-b074-3f017f7df8c5&lang=en&cr=US&sloc=&p=1This worked great for me.
1) Install the pfbackup
2) It won't appear in the list on Outlook
3) I start Outlook and go to Tools/Trust Center
4) Select the Add Ins tab, go down to COM and select add
5) Select add again in the new window, and browse to a directory similar to
this:
c:\program files\microsoft office\office12\addins
6) select the file: outbak.dll
7) voila! the option now appears on the File menu and works perfectly.