I am using Excel 2007, my colleague uses '03 version. We are having an issue with opening a file that contains images i.e. jpg. Every time the file is opened the images that are within the workbook are shifted down the page. The images are never in its right place. After moving them to where they should be and saving the file, once either of us re-opens the file, the images are shifted again out of place. Can anyone help us as to why this is happening? Note: my colleague who uses '03 version never had this issue until I started working on the file using '07 version. Please help.

Thanks!
hamzadeh