I was thinking of doing this for some time but never got time to do this. So finally I took some time off yesterday to do the setup. <a href="http://www.howtoforge.com/exim-mysql-cyrus-imapd-horde-centos5.1-p2" target="_blank">Here is a good link on the instructions for the CentOS, but on Fedora also they hold good.
So what you need to do is basically install exim, imp, horde, horde-enhanced and cyrus* packages and then configure imap server and exim to do the mailing part and setup horde to view the mail.
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