Depending on your version of Exchange:
2003 Standard has a default limit of 18Gb but can be raised to 75 GB by editing the registry.
2003 Enterprise has no limit (although I think it is 8000GB, which is in a real sense no limit)
Have a read here:
Exchange Server 2003 Database Size Limit Configuration and Management
http://technet.microsoft.com/en-us/library/aa998066.aspxHow can I change the store limits in Exchange 2003 SP2
http://www.petri.co.il/change_store_size_limits_ex2003_sp2.htm