Instead of adding an image to the body of a message with a web
link (img scr='http://somewhere.com'). This code will show how to
embedd the image like when you click on Insert > Picture...

VB Code:
  1. Option Explicit

  2. 'Add reference to MS Outlook x.x Object Library

  3. 'Picture to be added as an attachment and modified src location for each embedded picture.

  4. Private Sub Command1_Click()

  5.  
  6.     Dim oApp As Outlook.Application

  7.     Dim oEmail As MailItem

  8.     Dim colAttach As Outlook.Attachments

  9.     Dim oAttach As Outlook.Attachment

  10.     

  11.     'create new Outlook MailItem

  12.     Set oApp = CreateObject("Outlook.Application")

  13.     Set oEmail = oApp.CreateItem(olMailItem)

  14.     'add graphic as attachment to Outlook message

  15.     'change path to graphic as needed

  16.     Set colAttach = oEmail.Attachments

  17.     Set oAttach = colAttach.Add("D:\my documents\[color=red]MyPic.jpg[/color]")

  18.     oEmail.Close olSave

  19.     'change the src property to 'cid:your picture filename'

  20.     'it will be changed to the correct cid when its sent.

  21.     oEmail.HTMLBody = "<BODY><FONT face=Arial color=#000080 size=2></FONT>" & _

  22.     "<IMG alt='' hspace=0 src='[color=red]cid:MyPic.jpg[/color]' align=baseline border=0>&nbsp;</BODY>"

  23.     oEmail.Save

  24.     oEmail.Display 'fill in the To, Subject, and Send. Or program it in.

  25.     Set oEmail = Nothing

  26.     Set colAttach = Nothing

  27.     Set oAttach = Nothing

  28.     Set oApp = Nothing

  29.  
  30. End Sub
When the message is displayed it will look like
its not embedded correctly, but when Outlook sends the
message it will embedd it and link the proper source cid.