How about
Code:
Public Sub Save_APPS(itm As Outlook.MailItem)
Dim objAtt As Outlook.Attachment
Dim saveFolder As String
Dim vExt As Variant
saveFolder = "P:\Data\"
For Each objAtt In itm.Attachments
If InStr(objAtt.fileName, ".xls") Then
vExt = Split(objAtt.fileName, Chr(46))
objAtt.SaveAsFile saveFolder & "\" & _
Left(objAtt.fileName, 5) & _
Chr(46) & vExt(UBound(vExt))
End If
Next
Set objAtt = Nothing
End Sub