Try this..
Sub InsertPic()
Dim pic As String 'file path of pic
Dim myPicture As Picture 'embedded pic
Dim rng As Range 'range over which we will iterate
Dim cl As Range 'iterator
Set rng = Range("A1:A10") 'Change this to what range you need. this is the range where the pics are inserted into.
For Each cl In rng
pic = cl.Offset(0, 1)
Set myPicture = ActiveSheet.Pictures.Insert("C:\Documents and Settings\My Documents\My Pictures\" & pic & ".bmp") 'change this to the file path
'
With myPicture
.ShapeRange.LockAspectRatio = msoFalse
.Width = cl.Width
.Height = cl.Height
.Top = Rows(cl.Row).Top
.Left = Columns(cl.Column).Left
End With
'
Next
End Sub
hope this helps
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