In simple three steps
type this:
#convert -resize 640×480 -colors 14 picture.jpeg picture.xpm
#gzip picture.xpm picture.xpm.gz
then add below line (without quotes) into /boot/grub/menu.lst
“splashimage (hd0,1)/home/username/picture.xpm.gz”
here (hd0,1) means– your root partition
or you can convert the picture (640×480) using Gimp also
Limitation:
Presently you can view only 14 colors pictures only
