From the publisher's website:
GURPS Lite Third Edition is a 32-page distillation of the basic GURPS Third Edition rules. It covers the essentials of character creation, combat, success rolls, magic, adventuring, and game mastering.
The purpose of GURPS Lite is to help GMs bring new players into the game, without frightening them with the Basic Set, Compendiums, and a stack of worldbooks! With GURPS Lite, you can show your players just how simple the GURPS system really is.
It can also be used as a neophyte's stand-alone introduction to roleplaying . . . but it is really designed as a tool to let the experienced player bring his friends into the game.