This program is capable of converting any popular image format into icons
Editor: Meet IconMasterXP, version 4.0 of our popular icon conversion software,convert psd2ico. From TheAlas.com Designed for Microsoft Windows XP systems, this program takes all advantages of advanced Windows XP Modern icon design. To put it simpler, this program is capable of converting any popular image format into Microsoft Icon format, plus giving you great control over your conversion process. Creating Windows XP Icons with your favorite picture editing software does not have to be a torment; IconMaster can make valid icons in matter of seconds, with all supported bit-depth formats!
Of course, making icons out of raw pictures is not the only thing this program does. Before you go back to PhotoShop, Photo-Paint or whatever program you might be using, have a peek into IconMasterXP filters. You can resample, colorize, change gamma value, do some lighting, and much more. If you are still not sure if this would all work for your icons, we will list all the supported import and export formats: Portable Network Graphics (*.png), Windows Bitmaps (*.bmp), Wireless Bitmaps (*.wbmp), Windows Icons (*.ico), Tagged Image Format (*.tif; *.tiff), Targa Bitmaps (*.tga), ZSoft Paintbrush Graphics (*.pcx), Windows Metafile (*.wmf), Enhanced Windows Metafile (*.emf), Joint Photographic Experts Group Format (*.jpg; *.jpeg), JPEG 2000 Format (*.jp2; *.j2k) (import only) and Portable PixMap Format (*.pnm). All these formats are supported by both import and export systems!

IconMasterXP is TheAlas.com Software product. you can free download IconMasterXP 4.1 now.