The remote host is vulnerable to multiple attack vectors.
The remote host is running a version of PHP that is older than 5.0.5. This version has a number of bugs that allow attackers to execute or retrieve arbitrary files outside of the web root directory. An attacker exploiting these flaws would only need to send a malformed HTTP request to the vulnerable system. Successful exploitation would result in the loss of confidential data or a breach of system integrity.
Upgrade to version 5.0.5 or higher.