It is my understanding that it is possible to assign applications
short cut key combinations that start with CTRL+ALT.  I attempted to
do this following the instructions given by win help, but failed.  I
opened the properties dialog box of a shortcut to the application in
question and assigned it a shortcut key combination (CTRL + ALT + M,
for instance).  The key combo didn't work, even after restarting
windows.  The question is: "Do you know how to assign keyboard
combinations to specific applications under windows 2000 pro, given
that the description above did not work (preferably no 3rd party
applications)?"

I tested the Win Help instructions on my Win2000 system and it worked
just fine.
(create a shortcut, goto Properties and edit the "shortcut key" line
to whatever you want)

What kind of keyboard are you using? (mine is a HP keyboard with the
"Windows" keys.

My system is Windows 2000 sp2 with all WindowsUpdates (Critical and
Security patches)

--jason

There is a problem in Windows 2000 when assigning shortcuts to the
icons that sit on the task bar, next to the start button. For some
reason, assigning shorcuts to the shortcuts there does not work.
Instead, it is best if the shortcut is assigned to the the program
shortcut in the Start Menu itself.

worth-ga,

You were right no the mark.  I should have mentionned that I was using
the shortcuts in the taskbar.  I guess this is one of those MS bugs. 
Thanks a lot, feel free to claim the answer, you'll get 5 stars for
your educated guess on what might have been wrong.

Since that solved your problem I suggest that you close the Question,
so you won't have to pay the $2 to a Google Researcher :)