Mail item full folder location

Is there any way to find the full path of a mail items location? When you
look at properties, it only gives you the lowest level name, not the whole
path.

E.g. A mail item in
MailBox1 \ Projects \ Project 1 \ Customer1 \ Testing
will only show "Testing" as it's folder, so I don't know if it's under
Project 1, 2, 3, or 4, or customer 1 - 10 etc.

I can't seem to spot a property that is accessable via VBA either.

Thanks!
Critcho

<EDIT..> Sorry forgot to mention the details - thought it was an Outlook forum.
Application = Microsoft Office Outlook 2007
Running Exchange Server, if it makes a difference.