I would find your corrupt Outlook.pst file and rename it Outlook.OLD. To do this open My Documents (Windows Key & E Key) then go to Tools>Folder Options and the view tab. Select "Show Hidden files and folders" and deselect the box "Hide extensions of known file types"
Now go to C:\Documents and Settings\[YOUR USER NAME]\Local Settings\Application Data\Microsoft\Outlook and right click your Outlook.pst file and select rename. Remove pst and replace it with OLD.
Reboot and I think Outlook will create a new PST file automatically. If it doesn`t work we can always reverse the procedure.