Source: http://defaultreasoning.wordpress.com/2009/11/16/synchronize-time-with-external-ntp-server-on-windows-server-2008-r2/

I can never seem to remember how to do this on 2008, so herewith instructions (copied from above link):

Time synchronization is an important aspect for all computers on the network. By default, the clients computers get their time from a Domain Controller and the Domain Controller gets his time from the domain’s PDC Operation Master. Therefore the PDC must synchronize his time from an external source. I usually use the servers listed at the NTP Pool Project website. Before you begin, don’t forget to open the default UDP 123 port (in- and outbound) on your firewall.

  1. First, locate your PDC Server. Open the command prompt and type: C:>netdom /query fsmo
  2. Log in to your PDC Server and open the command prompt.
  3. Stop the W32Time service: C:>net stop w32time
  4. Configure the external time sources, type: C:> w32tm /config /syncfromflags:manual /manualpeerlist:“0.pool.ntp.org, 1.pool.ntp.org, 2.pool.ntp.org”
  5. Make your PDC a reliable time source for the clients. Type:** C:>w32tm /config /reliable:yes**
  6. Start the w32time service: C:>net start w32time
  7. The windows time service should begin synchronizing the time. You can check the external NTP servers in the time configuration by typing: C:>w32tm /query /configuration
  8. Check the Event Viewer for any errors.

If you’re in South Africa, then pick one of the stratum 2 server on the following website:

http://www.time.org.za/

At the time of writing, they are:

Stratum-2 Servers

<td>
  <strong>Location</strong>
</td>

<td>
  <strong>Hosted by</strong>
</td>

<td>
  <strong>OS Platform</strong>
</td>

<td>
  <strong>Upstream ISP</strong>
</td>
<td>
  Pretoria
</td>

<td>
  CSIR
</td>

<td>
  FreeBSD
</td>

<td>
  Internet Solutions
</td>
<td>
  Johannesburg
</td>

<td>
  Internet Solutions
</td>

<td>
  UNIX / FreeBSD
</td>

<td>
  Internet Solutions
</td>
<td>
  Cape Town
</td>

<td>
  Internet Solutions
</td>

<td>
  UNIX / FreeBSD
</td>

<td>
  Internet Solutions
</td>
<td>
  Cape Town
</td>

<td>
  SAIX
</td>

<td>
  Solaris
</td>

<td>
  SAIX
</td>
<td>
  Johannesburg
</td>

<td>
  M-Web
</td>

<td>
  Cisco
</td>

<td>
  Internet Solutions
</td>
<td>
  Cape Town
</td>

<td>
  MTN Business
</td>

<td>
  FreeBSD
</td>

<td>
  MTN Business
</td>
<td>
  New Doornfontein, Jhb
</td>

<td>
  MTN Business
</td>

<td>
  FreeBSD
</td>

<td>
  MTN Business
</td>
<td>
  Cape Town
</td>

<td>
  MTN Business
</td>

<td>
  FreeBSD
</td>

<td>
  MTN Business
</td>
Server DNS name
ntp1.meraka.csir.co.za
ntp.is.co.za
ntp2.is.co.za
igubu.saix.net
ntp-ndf.mweb.co.za
ntp0.za.uu.net
ntp1.za.uu.net
ntp2.za.uu.net