  We present broad band photometry and spectroscopic observations of the host
galaxy of GRB 030329. Analysis of the spectral emission lines shows that the
host is likely a low metallicity galaxy (Z~0.004). The spectral energy
distribution (SED) constructed with the photometric points has been fitted
using synthetic and observational templates. The best SED fit is obtained with
a starburst template with an age of ~150 Myr and an extinction Av~0.6. We find
that the GRB 030329 host galaxy is a subluminous galaxy (L~0.016 L*) with a
stellar mass of >~10^8 Mo. Three independent diagnostics, based on the
restframe UV continuum, the [OII], and the Balmer emission lines, provide a
consistent unextincted star formation rate of ~0.6 Mo yr^-1, implying a high
unextincted specific star formation rate (~34 Mo yr^-1 (L/L*)^-1). We estimate
that the unextincted specific star formation rate of the GRB 030329 host is
higher than ~93.5% of the galaxies at a similar redshift.
