In tip 0679, we moved the location of Temporary Internet Files.
To simply excluded them from being saved, use Regedt32 to navigate to:
On the Edit menu, Add Value name ExcludeProfileDirs as a type REG_SZ, and set the string data to the names of the folders, relative to the profile root, that you wish to exclude. If entering more than one, they must be separated by semicolons.
Temporary Internet Files;Application Data\Microsoft\Outlook;Personal