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Why not simply send him a CS2 Illustrator file? Simply choose the respective older version format in the Save dialog. Sending an EPS would be kinda foolish, as it flattens everything and he would not be able to edit it much, but he might so with a native AI file, even if some of CS3 specific features will also be converted/ flattened...
There shouldn't be a problem with an .eps file but if you think it would help in the Save dialog, select the destination and file name and set the file type in the bottom pull-down. When you click OK another window will come up that says EPS Options. Here from the top pull-down select CS2 EPS and what other options you want and save.
Thank you. I was completely over looking that second part. I feel dumb now.
Also, for some reason the person that I am sending it to wants an .EPS file and specifically asked for it.