Cant get my head around term server licensing 2

[MrRetro]

If someone can help me figure this out it would be much appreciated.
I have a 2003 term server, lets say I need 100 people to access a program through this server (have the program run when they log into the machine). Do I need 100 licenses for the server as well as 100 terminal server licenses ?
After doing some digging on the net that is what I think I need to be compliant.
If anyone can confirm this or explain it in laymans terms (the ms articles on TS licensing are rather complicated) I would be eternally grateful.

Thanks in advance.

 

[porkchopexpress]

This has changed recently, with 2000 TS you only needed a Windows licence. With 2k3 TS you need a Windows CAL and a TS licence.

http://www.microsoft.com/windowsserver2003/howtobuy/licensing/ts2003.mspx