In its security bulletin summary for August 2006 Microsoft reports a total of nine new critical vulnerabilities in its operating systems / applications, as well as three important .

Critical is Microsoft’s highest vulnerability rating.

A summary describing briefly the vulnerabilities is available from Microsoft’s Security Bulletin Summary for August 2006.
From this page you will also find links to more detailed information in Microsoft's Security Bulletins MS06-040 - MS06-044, MS06-046 - MS06-048 and MS06-051(critical), and MS06-045, MS06-049 and MS06-050 (important).
The potentially most serious of these vulnerabilities is the one discussed in MS06-040, which may be exploited over the Internet, and without any user interference.

Updates that fixes the vulnerabilities are available from Windows automatic update mechanism for systems that support this. Alternatively, one may download updates from http://windowsupdate.microsoft.com.  

Norman advices all affected users to download the security updates as soon as possible, to be protected from potential exploits.