Move the picture up and down, and see how it interacts with the headline (get Moving!) and the red text. All three have z-index values of 'auto' (because I haven't specified any other value). The image slides over the headline because it was declared later in the HTML source, and slides under the red text because the red text was declared later. Why the image slides under the pushbuttons is anyone's guess! The image is a transparent GIF, and IE 4 maintains its transparent areas when it's sliding over other objects.