Exclude Folders Shadow Copy Win 2003 Enterprise Server

[Chowsman]

I have a volume of 3Tb RAID 10. I have a folder for SQL data (mdf)
and another for files. I want to implement Shadow Copy on the file
folder and not for the sql folder, can this be done with this key:

HKEY_LOCAL_MACHINE\System\CurrentControlSet\Control\BackupRestore
\FilesNotToSnapshot

Thanks,

Dennis