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Microsoft Office 2003 Service Pack 3 (SP3) represents a major evolution in security for Office 2003. It further hardens the Office suite against potential attacks and other security threats. This service pack also includes fixes that have been previously released as separate updates for Office 2003

You can get specific information about this update in the Microsoft Knowledge Base article (923618): Description of Office 2003 Service Pack 3.

Service Pack 3 also includes stability improvements developed as a result of user input from the Microsoft Online Crash Analysis in Office 2003 and from Microsoft Product Support feedback.

Some of the changes in Service Pack 3 modify the behavior of Office 2003, including changes that disable some features by default and increase control for computer administrators.

Source: ActiveWin