Synced with Outlook Calendar appointments are 1 hr early on after March 12

I am syncing with cable with MS Outlook Calendar and Notes on PC. Outlook is 2003. Since Daylight saving March 12, all calendar items is 1h early. ie. a 11am appointment in Outlook shows up as 10am in IPhone. If appointment is entered on iPhone it shows up after syncing as 1hr later in Outlook
However the Alarm come in proper time for the 11am appointment

This has worked fine for years and worked fine with 4.1 in November.
The 4.2 or 4.3 may have introduced some changes to the calendar. 4.3.1 does not appear to have changed anything.