A recent update hosed the installation of Microsoft Office 2003. Whenever someone attempted to launch Excel, it would begin the installation process then a popup indicating that SKU011.CAB could not be found.

The solution is to open regedit and navigate to HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Office\11.0\Delivery\. Once there you will see a string similar to this one {90xx0409-6000-11D3-8CFE-0150048383C9}. The xx may be most likely not be that of the one provided in the code below. In each case that I have navigated this path using regedit there was only the one string under Delivery. Select it, you should see CDCache. Change it to the desired setting “0”.

[HKEY_LOCAL_MACHINE\SOFTWARE\Microsoft\Office.0\Delivery\{90000409-6000-11D3-8CFE-0150048383C9}]
"CDCache"="0"

Set to auto to cache the entire source on the drive with the most space (the default). If insufficient space exists, cache only the features selected for installation. If space is not available for selected features, install from the CD.
Set to 1 to cache only the features selected for installation; if space is not available, the installation fails.
Set to 2 to force caching of entire source; if space is not available, the installation fails.
Set to 0 to disable creation of a local installation source and run the installation directly from the source.

Source

• http://office.microsoft.com/en-us/ork2003/HA011513671033.aspx