Microsoft has released security advisory 983438 to notify users of a vulnerability in Microsoft Windows SharePoint Services 3.0 and Microsoft Office SharePoint Server 2007. The advisory states that Microsoft is investigating public reports of exploitation of the vulnerability that may allow the execution of arbitrary script within the SharePoint site.
US-CERT encourages users and administrators to review Microsoft Security Advisory 983438 and apply any workarounds to mitigate the risks.
US-CERT will provide additional information as it becomes available.