Multiple Archive Folders in Outlook

Several months ago my archive.pst folder was moved to my E drive to create more space on my C drive.
I have just noticed that I now have multiple 'Archive Folders' in my Outlook Folder List.

On checking, I now have more than 1 archive.pst file
C:\Documents and Settings\AGM\Local Settings\Application Data\Microsoft\Outlook\archive.pst
E:\archive.pst

Is it possible to merge the two files, creating 1 large file on the E drive and only 1 'Archive Folders' in my Outlook Folder List?

Is the multiple folders a function of the various AutoArchive settings?