Microsoft Exchange Server does not have any specific built-in function for self-managing mailing lists to which users can subscribe themselves. However, as described by Tony Redmond in his May 1999 article for the Exchange & Outlook Administrator newsletter, it is possible to combine several Exchange Server functions to build at least a rudimentary list server. There are also several sample applications and third-party tools for this purpose. We also include tools for managing distribution lists in Exchange Server and groups in Exchange.
If you have access to the Microsoft BackOffice Resource Kit, it contains two utilities which you may find useful for list server usage. The first, ExList, offers list server features for Exchange Server. The second, DL Update, is not an list server but allows Exchange users to subscribe to or remove themselves from Exchange Server distribution lists. If you use DL Update, see XADM Error Message Failed to Get ADSI Object 8007203A.