However, it doesn't.
The version I'm using was last updated in 2001.
The GDI+ patch was created in 2004 & looks for Paint Shop Pro Studio. I'm using PSP 7 which the GDI patch doesn't recognise.
There are some interesting comments on the patch screen
'As you may have become aware, a new breed of virus has been released into the public domain that affects your digital pictures, or in other words, is capable of destroying the memories you have saved on your computer. This virus attacks the GDI+ system file that ships with Microsoft Windows and is used by many programs to display JPEG images and other graphic files. While this sounds terrible, we at Jasc want to let you know that we take great measures to keep you safe while using our products. Jasc products use the GDI+ technology, but not in a way that makes you vulnerable as a user. This patch will aid in the safety of your pictures and protect against future GDI+ security breeches. While this patch solidly protects you while using Jasc products, we cannot guarantee that you are safe while using other products, so after installing this patch we suggest that you read the Jasc Knowledge Base article on this issue for further suggestions on protecting your computer and your memories.'
SO even if the GDI patch works, it might not protect other programs using the GDI+ file.
I suppose one way around this is to redplace the GDI+ file with the original GDI+ file at least as a temorary fix. But it's not a cure.