The suspicious message “Exploit.CodeBaseExec” means that HTML page being scanned contains code exploiting the Microsoft Internet Explorer Arbitrary Program Execution Vulnerability, aka the Local Executable Invocation via Object tag vulnerability.
Microsoft Internet Explorer 5.01, 5.5 and 6.0 treat objects invoked on an HTML page with the codebase property as part of the Local Computer zone, which allows remote attacks to invoke executables present on the local system through objects such as the popup object.
More information on this vulnerability can be found at the following links:
Microsoft released a patch on March 28, 2002 that eliminates this vulnerability in Internet Explorer. To download this patch go to the following link: