It is not. Microsoft has confirmed this, see http://www.microsoft.com/technet/security/advisory/912840.mspx -> Frequently Asked Questions:

Q: Is this issue related to Microsoft Security Bulletin MS05-053 - Vulnerabilities in Graphics Rendering Engine Could Allow Code Execution (896424) which was released in November?

A: No, these are different and separate issues.

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Link to this comment: http://www.securityfocus.com/comments/newsbriefs/93/409#409