Office 2003 all updates failed - SP2 Currently is in Effect

I came across security updates for Windows XP and Office 2003, after running the process windows XP updates got installed successfully but all updates for Office 2003 failed. I dont know for what reason, i have made sure that automatic update is turned on. Any ideas what might be wrong in my case???

In that case you can go through below article and check out if you are getting any help from it. Its regrading failures that occur while installing updates for office program.
How to troubleshoot failures updating your Office installation from the Office Update Web site

Are you having Ose.exe process running in your system? If it is not running then your system wont be able to install any Microsoft Office updates. In order to check it out type "msconfig" in run and click on ok, once you get new window opened then under services make sure that Ose.exe is running.

Have you used Windows Live Safety Center Registry Clean-up ? If yes then i will like to inform you that it deletes some registry keys while carrying out clean-up wizard. If any registry of ms office is missing then its likely to run in to issues like this, in that case you will have to restore the registry keys and for that you can follow below steps:
Open control panel "Folder Options" > tab "View" and enable "Show hidden files and folders", close all other window and navigate to below folder using Windows Explorer:
C:\Documents and Settings\<user>\Application Data\Windows Live Safety Center\BackUp\
Once you get in to and BackUp double-click the .reg file Microsoft Safety registry cleanup for restoring them and try installing updates.

I wanted to know if you have tried installing those failed updates manually? If not then download all those updates one by one and install them accordingly. In my case some updates were failing to get installed automatically but later when i tried installing them manually i did not encountered any errors and all updates got installed successfully, if you want then you can try out the same.

You can try repairing office 2003 from add/remove program or using original installation disk. If that doesn't help then you can try editing below registry subkeys and try installing update after that.
HKEY_CURRENT_USER\Software\Microsoft\Office\11.0
HKEY_LOCAL_MACHINE\Software\Microsoft\Office\11.0
You will have to right click on 11.0 and rename it to Old11. Just make sure that you are backing up current registry before trying out this editing.

I was running in to same issue a couple of weeks ago, installing updates manually has helped me out as well.