Comment 14 for bug 631395

Further to this - if I change the password type to "Secure" instead of "Plain text" in the options of the Exchange account, as well as starting evolution offline, then things seems to work (after I've switched Evolution back to being on-line).
If Evolution asks for my AD password - I have to restart Evolution.
Once it's all doing it's thing - it really is much faster than 2.28.