Can I install Windows 2003 TS License on Windows 2008 R2?

Yes, you can. Quoted from Microsoft: "You can install RDS CALs for different product versions onto the same license server. For example, you can install both Windows Server 2003 TS Per Device CALs and Windows Server 2008 TS Per User CALs onto a license server that is running Windows Server 2008 R2. This provides you the ability to have one license server provide RDS CALs to Remote Desktop Session Host (RD Session Host) servers running various versions of Windows Server".

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