Question : Does Office 2003 SP3 include SP1 and SP2 ?

Do we only have to apply SP3 to a newly installed Office 2003.

Answer : Does Office 2003 SP3 include SP1 and SP2 ?

there is only SP2 for Office 2003, which includes SP1 too
http://www.microsoft.com/downloads/details.aspx?FamilyID=57e27a97-2db6-4654-9db6-ec7d5b4dd867&displaylang=en

SP3 is for OfficeXP and Office 2000 only, which includes SP1+SP2 for them too

OfficeXP SP3
http://www.microsoft.com/downloads/details.aspx?FamilyID=85AF7BFD-6F69-4289-8BD1-EB966BCDFB5E

Office2000 SP3
http://www.microsoft.com/downloads/details.aspx?FamilyId=E5E47400-AAFE-48AF-AE78-C30091821C5F&displaylang=en