Is there any way to reduce excel 2003 mem usage to be reduced? One of my applications runs fine on Excel 2000 and fails in Excel 2003 with low virtual memory capacity error. Under task manager on looking into the "mem usage" for Excel 2000 its around 30MB and in Excel 2003 its DOUBLE!! Any suggestions?

This is fairly typical of Micro$oft products.
The easiest way round it is either NOT to upgrade or throw more RAM at the problem.
It also sounds that your virtual memory needs adjusting.
If you let us knows what OS you are running we can help better.

We did change the virtual memory to what is recommended by Microsoft but it did not help much.
The OS is WinXP and Office 2003
If we downgrade to Office 2000 then it works fine with same RAM size or virtual memory setting.

OK how much RAM are you running, as XP prefers at least 512Mb.
Also what settings are you using for virtual memory.
From experience I find setting the min to equal your RAM and the max to twice your RAM works well.
You could always just leave the system to manage it for you.