'Remove from Calendar' function

Hello,

I have a shared mailbox that i am using as bookable room resource in
outlook 2003, but when someone cancels a meeting the time is made
availabe again but the booking remains prefixed with Cancelled. Is
there a some way of dynamically clearing this from the calender when
someone were to cancels as if i pressed the 'removed from calender'
button in the cancellation email.

Thanks

Harbojam