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Microsoft Office 2003 Picture Manager
Navigate to the directory with your images. Right click on the image you wish to resize and select 'Open With' and choose "Microsoft Office Picture Manager". This will open your image in the editor.

Select "Edit Pictures..." and then from there 'Compress Pictures' under the heading 'Change Picture Size'.

Select 'Webpages' from under 'compress for' this will compress your image to 448 X 336 pixels... click 'OK'

Once that is done select 'Save As' from file, and save the file with a different name so as to keep the original sized file.