Last November, Microsoft committed to providing two new service packs for Visual Studio. The first of those Visual Studio 2003 Service Pack (SP) 1, seemingly is just around the corner. According to Microsoft Program Manager Lee Coward, a last-minute bug discovered in the VC runtime led Microsoft to push back the release slightly, to August 15. The original release target date for VS 2003 SP1 was April. No update yet on when Microsoft plans to release SP1 for Visual Studio 2005. The original target date for that was by mid-2006.
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