Why yes there is!!!
I use this at work all the time.
1st you need to download your updates.
http://www.microsoft.com/technet/security/current.asp
Goto the URL listed above, it will allow you to select the product you want
to update as well as the service pack level you have installed thus far.
Go through the list downloading the appropriate patches to a local directory
of your hd.
When you have finished you will probably want to create a batch file to
install all the patches at once, that way you can just put in your disk,
double click and wait for it to finish updating.
A simple batch file might read:
Q329115_WXP_SP2_x86_ENU.exe /Q /Z
Q329834_WXP_SP2_x86_ENU.exe /Q /Z
Q323255_WXP_SP2_x86_ENU.exe /Q /Z
Q329048_WXP_SP2_x86_ENU.exe /Q /Z
Q329390_WXP_SP2_x86_ENU.exe /Q /Z
Q328310_WXP_SP2_x86_ENU.exe /Q /Z
Q329170_WXP_SP2_x86_ENU.exe /Q /Z
Q810833_WXP_SP2_x86_ENU.exe /Q /Z
Q810577_WXP_SP2_x86_ENU.exe /Q /Z
Q331953_WXP_SP2_x86_ENU.exe /Q /Z
js56nen.exe /Q
Q815021_WXP_SP2_x86_ENU.exe /Q /Z
Q811493_WXP_SP2_x86_ENU.exe /Q /Z
Q819696_WXP_SP2_x86_ENU.exe /Q /Z
WindowsXP-KB821557-x86-ENU.exe /Q /Z
WindowsXP-KB823980-x86-ENU.exe /Q /Z
Q817606_WXP_SP2_x86_ENU.exe /Q /Z
WindowsXP-KB823559-x86-ENU.exe /Q /Z
WindowsXP-KB824105-x86-ENU.exe /Q /Z
WindowsXP-KB824146-x86-ENU.exe /Q /Z
The reason we add the /q /z to the end of each file is so that we don't have
to reboot between installs. Just let it finish, reboot the machine and your
done.