Patch Tuesday refers to the second Tuesday of each month when Microsoft releases security updates for its products. As a matter of policy, Microsoft releases patches only on Patch Tuesday. (One recent exception to this was an out-of-cycle patch for the Internet Explorer VML vulnerability.)

The researchers at McAfee Avert Labs follow Patch Tuesday with interest: Microsoft’s products are used by the lion’s share of industry and home users, and un-patched vulnerabilities in Microsoft’s products can often have an impact on global security.

Back in July 2006, Patch Tuesday fell on July 11. On July 12, a Trojan, Exploit-PPT.b, was released. This Trojan exploited a previously-unknown Microsoft PowerPoint vulnerability.

An exploit for a new vulnerability follows a Patch Tuesday. A one-time event?

This month, on 12 October 2006-two days after the October Patch Tuesday-we discovered a zero-day exploit in the wild for a new Microsoft PowerPoint 2003 vulnerability, CVE-2006-5296. Microsoft has said on its TechNet blog that this exploit could carry out code execution on the victim’s machine.

Security expert Bruce Schneier has commented that exploits might be released to follow a Patch Tuesday to maximize the “window of exposure”-the time until next month’s Patch Tuesday arrives with security patches for the new vulnerability.

Is Zero-Day Wednesday (or Thursday) going to become a trend? We’ll be watching.