This is the way I installed:
@"\\Server\Share$\Office\Office 2003\SETUP.EXE" TRANSFORMS="\\Server\Share$\Office\Office 2003\New Custom Setup File.MST" /qb-
I also modified the file
\\Server\Share$\Office\Office 2003\FILES\SETUP\SETUP.INI
to get a chained install for the MUI's