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no , but it will tell you that but do not be afraid it will just work fine 
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no , but it will tell you that but do not be afraid it will just work fine

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There are some known issues with SP2 but they are only minor things.<br />
<a href="http://technet2.microsoft.com/windowsserver/en/library/6d70c1d0-9112-43d4-b41f-6922de18c6ac1033.mspx?mfr=true" rel="ugc nofollow">http://technet2.microsoft.com/windowsserver/en/library/6d70c1d0-9112-43d4-b41f-6922de18c6ac1033.mspx?mfr=true</a><br />
<br />
It is a well-known issue that service packs may cause some services become inoperable, may cause troubles. Before applying, take a full backup, specify path for uninstallation during SP2 setup, so in case, you can remove it via Add/Remove programs. 
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There are some known issues with SP2 but they are only minor things.
http://technet2.microsoft.com/windowsserver/en/library/6d70c1d0-9112-43d4-b41f-6922de18c6ac1033.mspx?mfr=true [http://technet2.microsoft.com/windowsserver/en/library/6d70c1d0-9112-43d4-b41f-6922de18c6ac1033.mspx?mfr=true]

It is a well-known issue that service packs may cause some services become inoperable, may cause troubles. Before applying, take a full backup, specify path for uninstallation during SP2 setup, so in case, you can remove it via Add/Remove programs.

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Are there any known issues with applying Windows Server 2003 pack2 on an Exchange 2003 / <br />
SP2 email environment?
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Are there any known issues with applying Windows Server 2003 pack2 on an Exchange 2003 / 
SP2 email environment?

Installing Windows 2003 SP2 with Exchange 2003

The Microsoft Legacy Operating System topic includes legacy versions of Microsoft operating systems prior to Windows 2000: All versions of MS-DOS and other versions developed for specific manufacturers and Windows 3/3.1, Windows 95 and Windows 98, plus any other Windows-related versions, and Windows Mobile.

Microsoft Legacy OS

Windows Server 2003 was based on Windows XP and was released in four editions: Web, Standard, Enterprise and Datacenter. It also had derivative versions for clusters, storage and Microsoft’s Small Business Server. Important upgrades included integrating Internet Information Services (IIS), improvements to Active Directory (AD) and Group Policy (GP), and the migration to Automated System Recovery (ASR).

Windows Server 2003

Exchange is the server side of a collaborative application product that is part of the Microsoft Server infrastructure. Exchange's major features include email, calendaring, contacts and tasks, support for mobile and web-based access to information, and support for data storage.