What are these Security issues in Flash?

Hey Guys,
I recently just got an interesting meeting request from my higher ups. They want to discuss secuirty threats with Adobe's Flash player and solutions. Thses solutions include taking down a site I put together for them over the course of several months. I am not about to see my site get taken down without a fight so I am looking for a summary of what possible threats can come out of the latest version of Flash, how they can infect a user, and how I can stop it.
I would really hate to see my site get taken down. Don't have too much time before the meeting so please let me know what I can do.

Hi Marks,
An update has been posed today for all systems, http://http://www.adobe.com/support/security/advisories/apsa09-03.html  this will explain the vulnerably that has been doing the rounds for the last few weeks.  they have issued a fix in a new download with the new verson number is
10.0.32.18
Cheers

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