As stated by Microsoft at http://blogs.technet.com/srd/archive/2010/01/15/assessing-risk-of-ie-0day-vulnerability.aspx, DEP can help in mitigate vulnerability impact. How to check if your IE is under DEP protection?
Simply use Sysinternal Process Explorer and enable the DEP colum in the normal view.
IE 8 is now vulnerable, a metasploit module was created to exploit the issue AND bypass DEP and ASLR to execute arbitrary code - you can find the article on my security blog here -> http://adamonsecurity.com/?p=110
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