Microsoft recommends that you use the Office Update site to determine if your computer requires this update before installing it.
Office 2003 Critical Update: KB828041 offers the highest levels of reliability available for Microsoft Office 2003. This update fixes an issue in Microsoft Word 2003, Microsoft Excel 2003 and Microsoft PowerPoint 2003 that occurs when opening a file last edited and saved in Office 2000. Under this specific scenario it is possible for graphic content to be inadvertently lost on save. The Office 2003 Critical Update: KB828041 is part of Microsoft's continued effort to provide the latest product updates to customers.
Download: Office 2003 Critical Update: KB828041