Since I will most likely have to implement multi-language support for many existing projects in near future, I am very anxious to see in how far this solution can help me save time:
Posted: May 3, 2004
Redmond, Washington, USA. Microsoft announced today a new localization solution for applications that run on top of its Windows XP and Windows Server 2003 operating systems. This new solution, called Microsoft Application Translator (MAT) enables applications to offer on-the-fly localization with no code change and limited investment in localization.
Source: www.microsoft.com/globaldev/tools/mat.mspx
If you are in the "lucky" position of writing international applications you should definetly check this post where Scott Hanselman put up a bunch of very useful links on Internationalization.