We present the first result of a comprehensive spectroscopic study of quasar host galaxies. On-axis, spatially resolved spectra of low redshift quasars have been obtained with FORS1, mounted on the 8.2m ESO Very Large Telescope, Antu. The spectra are spatially deconvolved using a spectroscopic version of the "MCS deconvolution algorithm". The algorithm decomposes two dimensional spectra into the individual spectra of the central point-like nucleus and of its host galaxy. Applied to HE1503+0228,

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... at z=0.135 (M_B=-23.0), it provides us with the spectrum of the host galaxy between 3600A, and 8500A, (rest-frame), at a mean resolving power of 700. The data allow us to measure several of the important Lick indices. The stellar populations and gas ionization state of the host galaxy of HE1503+0228, are very similar to the ones measured for normal non-AGN galaxies. Dynamical information is also available for the gas and stellar components of the galaxy. Using deconvolution and a deprojection algorithm, velocity curves are derived for emission lines, from the center up to 4arcsec, away from the nucleus of the galaxy. Fitting a simple three-components mass model (point mass, spherical halo of dark matter, disk) to the position-velocity diagram, we infer a mass of M(r<1kpc) = (2.0 +- 0.3) 10^10 solar mass within the central kiloparsec of the galaxy, and a mass integrated over 10 kpc of M(r<10kpc) = (1.9 +- 0.3) 10^11 solar mass, with an additional 10 This, in combination with the analysis of the stellar populations indicates that the host galaxy of HE1503+0228, is a normal spiral galaxy.