IcoFX is an award winning freeware icon editor. It is an all-in-one solution for icon creation, extraction and editing. It is designed to work with Windows XP and Windows Vista icons supporting transparency.

With a wealth of tools and more than 40 effects at your fingertips, there’s virtually no limit to the icons you can create. You can convert your favorite images into icons, or icons into images. With IcoFX you can extract icons from other files, including Windows Vista files. You can easily work with multiple files using the batch processing capability of IcoFX.

* Support for Vista icon with PNG compression
* Create icons for Windows 98 / ME / 2000 / XP / Vista
* Support for transparency (alpha channel)
* Batch processing for import, export and extract
* Multiple language support
* More than 40 effects + custom filter
* Resolutions up to 256×256
* Data types: 2, 16, 256, True Color, True Color + Alpha
* Extract icons from 32 bit exe and dll
* Import and export images
* Transparent, Brighten/Darken, Blur/Sharpen tools
* More

Get it here: IcoFX