1)   Icon Constructor - advanced icon maker 3.54
Icon Constructor is an advanced icon creator, it converts all image formats into Windows icons. It supports Windows XP icons in 32-bit color depth with an alpha channel. This robust program works like the Swiss Army knife of icon creation!

 2)   Chameleon Icons 1.0
Chameleon Icon converts images of any format into Windows icons with just a few clicks. Convert any picture or photo in BMP, JPEG, GIF, PNG, PSD, TGA and TIFF format into icons for your Windows desktop, applications, folders, email and ICQ contacts.