To quote from Technet article Q314902:
"How to Install Multiple Hotfixes with a Simple Batch File
You can install multiple hotfixes and run QChain.exe by using a simple batch file. If you want to use this method, make sure that all of the hotfixes and the QChain.exe tool are located in the same folder on the local hard disk. Create a batch file that contains the following lines:
@echo off
setlocal
set PATHTOFIXES= some_path
%PATHTOFIXES%\Q123456_w2k_sp2_x86.exe -z -m
%PATHTOFIXES%\Q123321_w2k_sp2_x86.exe -z -m
%PATHTOFIXES%\Q123789_w2k_sp2_x86.exe -z -m
%PATHTOFIXES%\qchain.exe
EXIT
Make sure to replace some_path with the correct path for the hotfixes. For example, if you stored the hotfixes in a folder named Hotfixes ondrive C, replace " some_path" with "c:\hotfixes". "
The URL to the article is here:
http://support.microsoft.com/default.aspx?scid=kb;en-us;Q314902
(please remove any spaces)
hope this helps