In the To field? In one incoming message? I'm highly skeptical, unless you have a really, really old version of Outlook or all those addresses point to a single account and the mail server has consolidated them rather than deliver three separate messages.
A better test would be to an outside mail service like GMail, Yahoo, etc.
--
Sue Mosher, Outlook MVP
Author of Configuring Microsoft Outlook 2003
and Microsoft Outlook Programming - Jumpstart for
Administrators, Power Users, and Developers