Attached Link: http://www.eovia.com/resources/download_update_car.asp

From the Eovia site:

Carrara 4.0.3 Update Features and Fixes Below you will find some of the new features of Carrara 4.0.3, as well as a list of bugs that have been fixed.: General:

• Carrara Hangs on Quit
• In non full screen mode, the application sometimes does not draw on the full window after being resized (always happen if stretched over two screens)
• In non fullscreen mode, the 3dview does not have the right size after a new
• In non fullscreen mode, the shader editor is not positioned at the right place (and doens't have the right size if the application window is smaller than usual)
• Non-uniform scaling applied to parent objects causes incorrect placement of children
• Grid size is not functional
• When selecting an object with a modifier for the first time, the delete key doesn't delete the object

Character Animation:

• Motion path, IK chains... : the state of wireframes (hidden, always visible...) is not saved
• IK chains are not updated when moving a parent of the ik target
• IK chains: the wireframe should always be visible by default
• Axis constraint: added the ability to set a custom rotation axis
• Duplicate with symmetry and IK should ignore constraints when they are off

Import/Export:

• BVH: importing a file with a single joint doesn't work
• RDS Import: Animation times incorrect
• fbx: need a warning message that says we can't open version 6 or later files (instead of nil pointer)
• C3 Physics Animation doesnt work in C4
• Carrara stops responding and a Unknown Error appears after importing this InfiniD file.
• Crash after opening a LWO file on the mac
• Missing Objects when opening Carrara Studio 3 files
• Text entry field for import offset nonfunctional in BVH Import.
• A particular GIF won't load
• Animated GIF with transparency is not working

Realistic Sky:

• Sky rendering is extremely slow
• Clouds lighting is not realistic enough
• Clouds shapes are not realistic enough
• Cloud layer rotation does not work
• Fog doesn't work at big scales
• Clouds should cast shadows
• The clouds in front of objects are not rendered
• The sun can be seen through objects in certain cases
• GI + Skies: doesn't work if the Scene has not been selected in the Prop. tray

Modeling:

• Spline objects: bad UV coordinates are generated when a cross section has a point that is not part of any shape
• Dynamic extrusion of oval causes crash in Vertex Modeler.
• Plant editor: Preview does not update when advanced settings are modified.
• Terrain Filters: progress bar won't disappear

Rendering:

• Rendering is up to twice slower than in Carrara 3
• Alpha Channel : texture map/movies do not support premultiplied alpha
• Raytraced Depth of Field is slow
• Depth of field is much slower than in Carrara 3.
• Blur per object does not work properly
• Object appear transparent when using Eovia Software renderer
• Shadow Catcher does not function properly with alpha channel.
• Global Illumination: the "Improved Edges" setting is not working properly
• Texture filtering does not work behind transparent object / alpha channel
• Post Renderers: renaming the only camera of the scene causes a nil pointer error in the preview
• Crash when rendering file in batch queue that contains Explode modifier
• Bump Map + reflections: Bump surface appears transparent.

Network Rendering:

• The network rendering does not work between Mac and Windows
• No error displayed when network ports are in use$
• Network rendering causes checkers on the final image.

Shading:

• Cellular Shader: Bump does not work properly after rotation

Mac OS X:

• Esc key doesn't cancel area render and crashes the application
• The serial number should be entered once for all the users of a given computer