You can apply the patches by running Windows Update (Start->Windows Update)
Worms exploiting the new vulnerabilities are expected soon. And these aren't nice worms like Stevely here. Oh No...
<<-- more like.
For more information:
Windows flaws allow PC takeover: Microsoft identified three vulnerabilities in Windows on Wednesday that could have a similar effect to that of the dreaded MSBlast worm of August.
New Windows virus may hit soon: It’s going to be another patch race.
Multiple Microsoft RPC DCOM Subsystem Vulnerabilities