Microsoft has released a Update Rollup 3 for Exchange Server 2007 SP1 and Update Rollup 7 for Exchange 2007 RTM.
Read more about it here from the Exchange Team:
Or at Microsoft at:
Description of Update Rollup 3 for Exchange Server 2007 Service Pack 1
Description of Update Rollup 7 for Exchange Server 2007
Update (July 10):
- The patch stops Exchange related services
- The Patch includes the previous updates for SP1 (rollup 1 & 2)
- The patch may require the server to restart to complete.
- Please note that it can takes some time to apply this update (up to 15 min.)(see image below)