Ref: http://www.dotnetfunda.com/codes/show/5844/extracting-attachement-from-msg-file
Using Microsoft.Office.Interop.Outlook.dll
using Microsoft.Office;
using Microsoft.Office.Interop.Outlook;
private void btnExtract_Click(object sender, EventArgs e)         
{
    // Create a new Application Class 
    _Application outlook; 
    outlook = new Microsoft.Office.Interop.Outlook.Application(); 
    // Create a MailItem object 
    MailItem item = (MailItem)outlook.CreateItemFromTemplate(@"D:\pdf\OutLookTest.msg", Type.Missing);
    for (int i = 1; i <item.Attachments.Count+1; i++)
    {                 
        string attpath = @"D:\" + item.Attachments[i].FileName;
        item.Attachments[i].SaveAsFile(attpath);
    }
}