How to exclusively remove "Log Out" system-tray panel item?

[Ajay Garg <ajaygargnsit gmail com>]

Hi all. 

I will be grateful, if someone could help me in figuring out, 
as to if "Log Out" option can be hidden from the system-tray menu, without affecting anything else? 
I use 
gnome-session 2.32.0.

I tried setting the /apps/panel/global/disable_log_out gconf key in /etc/gconf/gconf.xml.defaults/%gconf-tree.xml to true; but that would hide "Shut Down" panel item as well :(


Regards,
Ajay