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\frac{500}{1000}-\frac{1}{1000}
Least common multiple of 2 and 1000 is 1000. Convert \frac{1}{2} and \frac{1}{1000} to fractions with denominator 1000.
\frac{500-1}{1000}
Since \frac{500}{1000} and \frac{1}{1000} have the same denominator, subtract them by subtracting their numerators.
\frac{499}{1000}
Subtract 1 from 500 to get 499.