Following a lawsuit by Adobe, Microsoft agreed to remove the “save as PDF” feature from the upcoming Office 2007 (also called Office 12) as delivered.
But, Microsoft is providing this option as an “add-in” which can be downloaded for free by users from the Microsoft download site. Recently, that “add-in” was made available.
If you want yours (and the ability to also save as XPS format) …
Download your copy of the “Save as PDF” and “Save as XPS” add-in for eight MS Office program formats here.