http://xenia.sote.hu/~kadzsol/rexx/sajat/updcd.htm
It has a PM interface and supports many OS/2 addons. It can be used to update Warp 3, Warp 4, WSeB, MCP, or eCS installation files with FixPaks, and supports the creation of updated installation floppies. You can use the updated OS/2 image in combination with these floppies to create new installations of OS/2 which already incorporate the FixPaks and other software.
Thanks to Zsolt Kadar for the news.
Source: OS/2 Warp News and Rumors