Adobe released a security update for Adobe Reader 8 and Acrobat 8 that covers 8 different CVEs today.
http://www.adobe.com/support/security/bulletins/apsb08-19.html
This update covers these CVEs: CVE-2008-2992, CVE-2008-2549, CVE-2008-4812, CVE-2008-4813, CVE-2008-4817, CVE-2008-4816, CVE-2008-4814, CVE-2008-4815.

It affects Adobe Reader 8.1.2 and earlier and Acrobat Pro, 3d and Std 8.1.2 and earlier.
Adobe recommends you upgrade to Reader 9 or 8.1.3 or upgrade to Acrobat 8.1.3 depending on which product(s) you use.
This set of vulnerablies can lead to Internet Security options being changed, priviledge escalation, DOS or in the worse cases remote code execution.