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I think it will, you need to have rossetta installed though, Apple changed it to an optional install in 10.6
 
Works fine for me.

When I installed the latest Office 2004 update (11.6.2) I did have issues with Adobe Acrobat and PowerPoint. Ended up deleting the three PDFMaker.app files (Word, Excel & PowerPoint) which I didn't use nor want for that matter that Acrobat installs.
 
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