From MS TechNet: Image:Vulnerability in Microsoft Outlook could allow code execution

A security vulnerability exists within Outlook 2002 that could allow Internet Explorer to execute script code in the Local Machine zone on an affected system. The parsing of specially crafted mailto URLs by Outlook 2002 causes this vulnerability. To exploit this vulnerability, an attacker would have to host a malicious Web site that contained a Web page designed to exploit the vulnerability and then persuade a user to view the Web page.
The attacker could also create an HTML e-mail message designed to exploit the vulnerability and persuade the user to view the HTML e-mail message. After the user has visited the malicious Web site or viewed the malicious HTML e-mail message an attacker who successfully exploited this vulnerability could access files on a user's system or run arbitrary code on a user's system. This code would run in the security context of the currently logged-on user.

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