If the Exchage Agent is operational then Backup Exec will automatically exclude certain files to do with Exchange from a flat file backup of the file system - (suggest you search the PDF of the Admin Guide for the term "Active File Exclusion")

The Agent Backup of the Information Store(s) should be enough to get you back operational as long as you are prepared to install Exchange in /Disasterrecover mode. Note being prepeared involves knowing the names you gave to key Exchange objects and knowing any customization (including the installation paths) As well as making sure you can recover active directory if needed.

However you should consider performing System State and FIle System backups of the Exchange server to cover for retrieval of the OS and to supplement that data backed up within the information stores.

Thank You

If I can broaden the question I suspect I may be duplicating some of the backup.

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On a daily basis we backup the Exchsrvr directory which holds the logs which get cleared (daily?) and the also MIS which contains the First Storage Group which in turn holds the Mailbox Store and the Public Folder Store.

At the same time we backup the Microsoft Exchange Mailboxes and the Microsoft Exchange Public Folders.
Is all this necessary?
I read somwhere that all we need to do is backup the Exchsrvr directory on a weekly or even monthly basis and backup up the MIS on a daily(?) basis with the option to restore single emails?
I am a relative beginner with Exchange and Backup.Exec.

Sorry about the hieroglyphics.
That may be because I did a CTRL + C during the operation.

OK there are 3 main  backup methods that are possible with Exchange
1) Backup The Information Stores (with or without GRT enabled)
2) Backup The Mailboxes as Brick Level (this is a legacy method and not needed if GRT is used and is very slow)
3) Flat File Backup The Exchange folder (which in reality should involve stopping the services and because of Backup Exec's Active File Exclusion would need you to restart the Remote Agent with the Exchange Services stopped otherwise the files that make up the stores would NOT be backed up)

1) with GRT is obviously the preffered method with the versions of Backup Exec that supports GRT (btw as GRT is continually being developed it is recommended that you use the latest version of Backup Exec)
2) is not needed if option 1 with GRT enabled is run
3) Will not protect your Exchange Server fully because of active file exclusion, but also because of active file exclusion if you select the complete volume containing the Exchsrvr directory it should only backup the files that the information store backup does not so you won't gain much by not running a backup of that area.