The update is for .NET framework 2.0

This post may be usefulhttp://forums.techarena.in/showthread.php?t=781347

Steps necessary to install the failed update:

1. Download .NET Framework 2.0
link on this page
http://support.microsoft.com/kb/923100/
2. Uninstall .NET Framework 1.0
3. Uninstall .NET Framework Security Update
4. Uninstall .NET Framework 3.0
5. Uninstall .NET Framework 2.0 (would not uninstall before .NET Framework 3.0 was uninstalled..dependencies)
6. Install .NET Framework 2.0 from the dotnetfx.exe download.
7. Visit windows Update and install
* .NET Framework 1.0
* Security Update for Microsoft .NET Framework, Version 2.0 (KB928365) <- this is the update that failed originally
* .NET Framework 3.0
8. Restart and go back to windows update.
9. Install -> Microsoft .NET Framework 1.1 Service Pack 1

Good luck