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Microsoft has released a new 'Office Compatibility Pack' which allows of older versions of Microsoft Word, Excel and Powerpoint to save documents in the newer file formats introduced with MS Office 2007.
The pack currently supports Word, Excel and Powerpoint. (Installation instructions should be read carefully).
The free add-on can be found at the Microsoft download center here .
In other Microsoft news, Windows XP Service Pack 3 has been released to beta testers and appears is tentatively scheduled for release in early 2008.