can I set an alert-autonotification on a public calendar using exchange 2007 and outlook 2007-10?

Dear Experts,
 Can anybody tell me if I can set up an alert-auto notification on a public calendar? this is my situation:
I have an exchange 2007 server with a mix environment of outlook clients (outlook 2007 and 2010) I want to create a public calendar but I want to be able to set up an alert or notification so every time that somebody post something in that calendar the users who have access to it will receive the notification.

Is this possible to do? do I need to have a third party tool in order to create this? if this is not possible, can anybody recommend another solution?

Thanks in advance.
Colombia1Asked:
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Manpreet SIngh KhatraConnect With a Mentor Solutions Architect, Project LeadCommented:
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