Is there a way to map a subdirectory of a local drive to a share on a file server?

Ideally, I'd like to have something like:

D:\ACCOUNTING map to //server/accounting
D:\PROJECTS map to //server/projects
D:\UTILITY map to //server/utility

Is there such a thing as .DIR file that has the UNC in it, or something?

An alternative might be to map a drive to one UNC, but how would I then make the other UNC show as a subdirectory of the mapped drive (instead of additional mapped drives)?

So, this may work, if possible:

Y:\ maps to //server/whatever
Y:\ACCOUNTING maps to //server/accounting
Y:\PROJECTS maps to //server/projects
Y:\UTILITY maps to //server/utility

This is a Windows2000 Professional and the server is NT4.

Thanks in advance for any advice.

I'm doing this because an inexpensive internet backup system I want to try only allows ONE local path to be backed up, and I'd like to pull a bunch of different files through what would appear as one local path.