How to convert a .PNG into a .ICO

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There's an image in the VS2010 stock icon pack which is only included as a PNG, which I would like to use as an ICO (I want XP and earlier users to see the icon). How can I convert the PNG into the ICO?

Best Answer

For one-off tasks I usually just cheat: .

If you will be doing this fairly often, you may want to consider the free Photoshop plugin.