Is it possible for me to create a new email address and make all the emails go to a public folder i have exchange 2003 on my server at the moment. If this is possible what would be the best way for me to implement this solution.
Yes, it's possible. You need to mail enable the PF in ESM. The PF will be assigned an email address based on your Default Recipient Policy, but the email address can be changed if needed. You'll need to make sure the Anonymous and Default entities have the Contributor role on the PF in order to recieve email to the PF.
This is a pretty decent step-through of what you're trying to accomplish. It's for Exchange 2000, but the steps should be the same for 2003.