Assuming that you only need to install one patch...
1) Download the patch.
2) Make note of your directory path for SMAC(X). If you have changed it from the default installation path you will need to know the exact location of your SMAC folder.
3) Click on the file. It is a self-extracting zipped file.
4) Check the install path in the dialogue box.
5) If the above path is the same as your SMAC folder, go to 7.
6) If the above path is different from your SMAC folder, change to the one noted in 2, above.
7) Click on the unzip button.
8) When you get a message that "xx files succesfully unzipped" close the box.
9) You're done. Remember to keep the file in a safe place (I keep a copy in the SMAC directory, and in a "Patches" folder, elsewhere on the computer).
Now, assuming that you have more than one patch to install....
Repeat above procedures for the patches, in this order
1) smacP4e.exe, to bring SMAC to version 4.
2) smacxpv2.exe, to bring SMACX to version 2.
3) smac4exe.exe, to resolve issues between SMAC v4 and SMACX caused by the poor coding of the SMACX v2 patch.
Hope this helps.