Remote DocumentRoot in Apache gives a 404

Question

I have the following specified in my httpd.conf, but I get a 404 when attempting to connect to the server from another machine. If I set the docroot to the default htdocs directory, everything works fine. (note.. I've also tried replacing the "//storage/data1" part of the path with the network drive letter "U:")

ServerRoot "C:/Program Files/Apache Software Foundation/Apache2.2"

DocumentRoot "//storage/data1/Engineering/Product Development"

<Directory "//storage/data1/Engineering/Product Development">
    Options Indexes FollowSymLinks

    AllowOverride None

    Order allow,deny
    Allow from all
</Directory>