Licensing for Hosting

Hi All

I have been round in circles on the MS website, and been round in
circles on the phone to MS, and I'm still no closer to an answer. I'm
hoping someone here has already come up against this and might be able
to help me with an answer.

The licensing options for sharepoint are not clear in a hosted
situation.

Let's say I have a small server farm (1 x domain controller, 1 x SQL
server 2000, 1 x Sharepoint Portal Server 2003) and I want to provide a
hosted service to clients.

I do not know what licensing option if for me. Assuming 500 - 1000
users, external to my company.

The external connector license does not cover hosted solutions?

Someone, please help!

Richard

.

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