The Ulti mate 07 version is the retail version with the real key which can be called for activation by Phone or on line.

It contains the following:
Word 07
Excel 07
Power Point 07
Outlook 07 with Business contact manager
Pubisher 07
Access 07
Groove 07
One Note 07
Info Path 07

It including 2DVDs, with real key and sealed by original factory.