Macromedia yesterday released an updated version of its Flash Player.

This follows the company's discovery of "potential security issues with Macromedia Flash Player", which the new version fixes. Macromedia says this is a "critical" update and recommends all users update Flash Player.

It addresses a vulnerability for "future exploits surrounding buffer overflows (read/write) and integrity within the Player which might allow malicious users to gain access to a user's computer".

Macromedia said: "In order to ensure the code we write and the software we release is as secure as possible, we've enhanced our testing practices, worked with third parties to evaluate our software architecture, and tested our software with detailed penetration tests. Macromedia hires and welcomes third parties from the security field to help us deliver the most secure software possible."

The company recently hired Paul Modor as its chief product-security officer. He will work both within Macromedia and with its developers and partners in Internet security to "bring a relentless focus on this initiative", the company said.

The 1MB Flash update download is available from VersionTracker. Versions are available for Mac OS X, Classic and Windows systems.