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Exchange is the server side of a collaborative application product that is part of the Microsoft Server infrastructure. Exchange's major features include email, calendaring, contacts and tasks, support for mobile and web-based access to information, and support for data storage.
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RIM recommends that you dont install on the same server as exchange, but it works either way if you dont have a different server to install on.
Download the installer, run it, it will go through a checklist for you. as long as everything passes your good to go.
Also, check
http://www.commodore.ca/windows/exchange/blackberry/how-to-install-bes-express-exchange-2010-single-server.html.
Its a pretty thorough walk through of what you'll need to do to get it all setup.