Windows 2000 Terminal Server Licensing

If I have a Windows 2000 Server running terminal services in Application mode and want to put Microsoft Office 2003 Professional on it, does anyone that connects to the terminal server have to have a CAL for the MS Office 2003 Professional? If so, does anyone connecting to the terminal server have to have it or just those that will use it? Also, about how much would a Microsoft Office 2003 Professional CAL be?