Microsoft is investigating public reports of a vulnerability in Internet Explorer 6, Internet Explorer 7, Internet Explorer 8, and Internet Explorer 9. Internet Explorer 10 is not affected. Microsoft is aware of targeted attacks that attempt to exploit this vulnerability.
A remote code execution vulnerability exists in the way that Internet Explorer accesses an object that has been deleted or has not been properly allocated. The vulnerability may corrupt memory in a way that could allow an attacker to execute arbitrary code in the context of the current user within Internet Explorer. An attacker could host a specially crafted website that is designed to exploit this vulnerability through Internet Explorer and then convince a user to view the website.
On completion of this investigation, Microsoft will take the appropriate action to protect our customers, which may include providing a solution through our monthly security update release process, or an out-of-cycle security update, depending on customer needs.
So no patch yet
The work around is a complicated sequence of installing a tool EMET and configure zones and other security settings. This is nice for us IT Pro’s, but not for the average Windows user, which are hundreds of millions users. They are temporary better of installing another browser, especially when they are local admin. Unless of course they run Windows 8 with IE 10.
See Microsoft Security Advisory (2757760) for details, FAQ and workaround