The page I linked you from microsoft shows it works on
APPLIES TO
• Microsoft Windows XP Home Edition
• Microsoft Windows XP Professional
• Microsoft Windows 2000 Professional Edition
• Microsoft Windows 2000 Server
• Microsoft Windows 2000 Advanced Server
Yes, if you import this reg file into these os's it will fix it and you don't need the patches.
I have to update 13 windows 2000 servers and 1000 winxp machines. And this is the way im doing it.
I used tzedit to verify it worked and it did.
You do however have to update outlook and other calander programs. All the info is at microsoft
http://support.microsoft.com/gp/dst_it1
Just select the os's and applications and it will link you to the kb article.