More security flaws have been revealed in IE, precisely in the way PNGs are interpreted. One of the people who discovered the flaw has even written a poem on it.
Find more news here: http://www.vnunet.com/News/1137611
The flaw comes after many sites (especially ones titled to Free Software) stopped using GIFs and started using PNG based images. Is this coincidence?
Regards,
Amol Hatwar.