Is it possible? Yes it is. 
As I write in previous post, Windows server 2008 CORE version is capable of running GUI applications as long as they don't use things that are stripped out of CORE version like shell API.
So, how to install Internet explorer on CORE version?
Honestly I don't know and I don't think this is possible at the time, but you could install Mozilla Firefox .
Download Firefox 2 (5.7MB) and run install on windows server 2008 CORE version.
After installation run firefox from c:Program FilesMozilla FirefoxFirefox.exe and enjoy surfing the Internet.
Be careful surfing the Internet from server OS is not advisable thing to do. The reason for this post is to show you that CORE version of windows server is capable of running GUI applications, and most off all we will need firefox for Virtual server 2005 R2 SP1 web administration installation.
There are some things that will not work in Firefox, like if you try to open some file using file/open, or if you try to save something using file/save. This is because dialog box for saving and opening files is part of the API that comes with explorer shell, and as such does not exist in CORE version of Windows server 2008.
Since Firefox has some issues when used with Virtual server Web application I advise you to download and install Opera (4.61MB)
After installation run opera from c:Program FilesOperaOpera.exe and once again - enjoy surfing the Internet. 
Stay Tuned
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