The best I could think of yet is this, but it's not as short as suggested:
mov A,P0
mov B,A
anl A,#07H
mov R0,A
mov A,@R0
jb B.4, OUT_P2
mov P1,A
mov P2,#00h
sjmp M_END
OUT_P2: mov P2,A
mov P1,#00h
M_END: ;etc.

Lookup table is in internal RAM, but is 9 bytes long to hold #00 as well ...