Slaists has it right. With Steam, you have to accept it updating to whatever the most recent patch is.
Well, there is an alternative which I've posted before: once you have some version you are content with, never start up Steam on your PC without first disabling your network interface in the appropriate Control Panel. Steam will always run off-line (no choice!) and will never notice any new patches. But no other games get updated or installed either, so this isn't for everyone. This is more extreme than the option of setting the game not to Auto-Update (right click on game and choose Properties menu) because many of us found that you couldn't rely on Steam obeying that and you ended up having to update anyway.
It wouldn't be possible to allow users to choose a selection of old patches anyway. The way programs are written just makes that impossible. It would be technically feasible to allow people to stick with some earlier state (say up to patch 4 but nothing newer, or up to patch 2 but nothing newer) but the potential problems for Steam's customer support in that would be great. So I can understand why they don't allow it - just would be handy for some of us at times.
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