Yes. In web admin do either of the below:
 
Create a new menu link to another website:
1. Click New Page
2. Enter the name of the page. This is what will appear in the menu.
3. In target, click link
4. In the Linnk field type the url (for example http://www.myothersite.com)
5. In the sort order field type a number between 2 and 999.
6. Click add page.
You will now have a link in the menu to another website on your team page.
 
Create links to other pages in the content of a page:
1. Click Edit content of the page you wish to edit.
2. Hight the text or image you want to make a hyperlink.
3. Click the Insert/Edit Link icon in the editor (this like a plant earth with a chain link next to it)
4. The link dialog will appear, type in the URL and click ok.
5. Click the save button on the bottom of the content page.