Office displays several shortcuts on the Places Bar in the Open and Save As dialog boxes.  By default this is limited to My Recent Documents, Desktop, My Documents, My Computer and My Network Places. You can add additional shortcuts to this list by:

• Navigate to: HKEY_CURRENT_USER\Software\Microsoft\Office\[version]\Common\Open Find\Places\UserDefinedPlaces

Where [version] corresponds to your Office version: 9.0 = Office 2000, 10.0 = Office XP, and 11.0 = Office 2003, 12.0 for Office 2007

• Create a sub-key named "PlaceN" beneath the UserDefinedPlaces key

Where N is an unrepeated number starting with 1–for example; Place1, Place2, Place3, and so forth.

1. Open your new PlaceN sub-key
2. Create two new String Values named "Name" and "Path".
3. Set the Name value to the desired shortcut name to see. (example "Business")
4. Set the Path value to the desired path. (example "c:\BusinessStuff")
5. Close the Registry Editor and restart the Office application.

When you use the Open or Save As dialog boxes your new Place(s) will appear.

As seen on:GeeksWithBlogs.net