Microsoft Office XP Service Pack 1 (also called Office XP SP1 and Office 10 SP-1) provides the latest updates to Microsoft Office XP. SP-1 contains significant security enhancements and stability and performance improvements. Some of the fixes included with SP-1 have been previously released as separate updates. This service pack combines them into one integrated package, and it includes a number of other changes designed to improve the reliability and performance of Office XP programs.
For more details, see this technical document at Microsoft
SYSTEM REQUIREMENTSMicrosoft Office XP Premium Edition, Professional Edition, Standard Edition, Small Business Edition or Developer Edition
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