Insert pictures
With the macro below you can insert pictures at any range in a worksheet. The 
picture can be centered horizontally and/or vertically.
Sub TestInsertPicture()
    InsertPicture "C:\FolderName\PictureFileName.gif", range("D10"), True, True
End Sub

Sub InsertPicture(PictureFileName As String, TargetCell As range, CenterH As Boolean, CenterV As Boolean)
' inserts a picture at the top left position of TargetCell
' the picture can be centered horizontally and/or vertically
Dim p As Object, t As double, l As double, w As double, h As double
    If TypeName(ActiveSheet) <> "Worksheet" Then Exit Sub
    If Dir(PictureFileName) = "" Then Exit Sub
    ' import picture
    set p = ActiveSheet.Pictures.Insert(PictureFileName)
    ' determine positions
    With TargetCell
        t = .Top
        l = .Left
        If CenterH Then
            w = .Offset(0, 1).Left - .Left
            l = l + w / 2 - p.Width / 2
            If l < 1 Then l = 1
        End If
        If CenterV Then
            h = .Offset(1, 0).Top - .Top
            t = t + h / 2 - p.Height / 2
            If t < 1 Then t = 1
        End If
    End With
    ' position picture
    With p
        .Top = t
        .Left = l
    End With
    set p = Nothing
End Sub

With the macro below you can insert pictures and fit them to any range in a 
worksheet.
Sub TestInsertPictureInrange()
    InsertPictureInrange "C:\FolderName\PictureFileName.gif", range("B5:D10")
End Sub

Sub InsertPictureInrange(PictureFileName As String, TargetCells As range)
' inserts a picture and resizes it to fit the TargetCells range
Dim p As Object, t As double, l As double, w As double, h As double
    If TypeName(ActiveSheet) <> "Worksheet" Then Exit Sub
    If Dir(PictureFileName) = "" Then Exit Sub
    ' import picture
    set p = ActiveSheet.Pictures.Insert(PictureFileName)
    ' determine positions
    With TargetCells
        t = .Top
        l = .Left
        w = .Offset(0, .Columns.Count).Left - .Left
        h = .Offset(.rows.Count, 0).Top - .Top
    End With
    ' position picture
    With p
        .Top = t
        .Left = l
        .Width = w
        .Height = h
    End With
    set p = Nothing
End Sub