My first question would be "When did this problem start to occur and what, if anything, did you install, unistall or CHANGE prior to having this problem?
Did your run Disk Cleanup? This could be ONE possible explanation why IE is trying to invoke some feature of MS Office 2003 where the install files are no longer available.
Do you have the original Office 2003 install disc? If you do then you should be able to put it in your CD/DVD ROM drive and the files that need installing SHOULD be installed.
Generally, I recommend that when people install Office that the elect to do a COMPLETE install and leave copies of ALL the install files on their hard drive. Runing Disk Cleanup can remove the Office install files if you tell it to do so.
It appears as if IE is trying to invoke some component of Office that is no longer installed. When Office is missing an installed feature - it attempts to install/re-install this feature from either the hard drive or CD ROM drive from which Office was originallly installed.
All of that said - you basically NEED the Office 2003 disc. If you don't have it and don't NEED Office 2003, you can completely UNINSTALL Office 2003 via the Control Panel, Add/Remove Programs. My guess is that you DO require Office.
If you HAVE the Office 2003 disc, you may want to completely UNINSTALL then REINSTALL the ENTIRE Office 2003 suite (select COMPLETE) when you install. Also, always, (provided you have the free disk space availble), elect to copy the Office Setup files to your hard drive. If those files are there, you won't be asked to put in the disk if something related to Office gets messed up or uninstalled.
Check out this link as it may provide additional help:http://support.microsoft.com/kb/297834