Well, outlook usually sends HTML email with the TXT copy as an alternative.
HTML email classes can easily help you decode it.
Try going to zend.com and under code gallery, look for any classes that parse HTML email and email in general. OOP w/ PHP is very straigtforward and you don't need to learn all the details to use it. Just follow the documentation given in the class.
I'll suggest you a good class to use if you are having trouble finding any.
I would suggest you writing your own email parser, but that would just take a lot of time, and you might as well use code that is already available :-)
good luck,
-sridhar