You can do something like this (I used two pictureboxes):
Code:
Private Sub Command1_Click()
Dim centerX%, centerY%
Dim iWidth%, iHeight%

    centerX = Picture1.ScaleWidth / 2
    centerY = Picture1.ScaleHeight / 2
    
    iWidth = 1000
    iHeight = 500

    With Picture2
        .AutoRedraw = True
        .AutoSize = True
        .Width = iWidth
        .Height = iHeight
        
        .PaintPicture Picture1.Picture, 0, 0, _
                      iWidth, iHeight, _
                      centerX - iWidth / 2, centerY - iHeight / 2, _
                      iWidth, iHeight
        
        Set .Picture = .Image
        .Cls
    End With

End Sub