Sub sample04()
  Dim objShape As Object
  Dim strPath As String
  Dim strFileName As String
  Dim strImgName As String
  Dim rngStatus As Object
  strPath = "c:\temp\"
  strFileName = Dir(strPath & "*.jpg")
  Do Until strFileName = ""
    strImgName = Left(strFileName, Len(strFileName) - 4)
    Set rngStatus = Cells.Find(What:=strImgName)
    If Not (rngStatus Is Nothing) Then
      rngStatus.Offset(0, 1).Activate
      Set objShape = ActiveSheet.Shapes.AddPicture( _
      Filename:=strPath & strFileName, _
      LinkToFile:=False, _
      SaveWithDocument:=True, _
      Left:=ActiveCell.Left, _
      Top:=ActiveCell.Top, _
      Width:=ActiveCell.Width, _
      Height:=ActiveCell.Height)
    End If
    strFileName = Dir()
  Loop
End Sub