No. But why would you want to do that?
You can however save the word document in text file like .txt or in webpage like .html and import them to excel.
Or use the insert>object>text from file function to insert text from a word document to excel. <recommended
Also, I don't have Office 2003 so I based it on Office 2010. There may be slight difference. But look for the function, I am sure the basic is still the same.