{ ... }
var
 Pic: Word2000.Shape;
 Left, : OleVariant;
 { ... }
{To add a pic and make it appear behind text}
Left := 100;
 := 100;
Pic := Doc.Shapes.AddPicture('C:\Small.bmp', EmptyParam, EmptyParam, Left, ,
 EmptyParam, EmptyParam, EmptyParam);
Pic.WrapFormat.Type_ := wdWrapNone;
Pic.ZOrder(msoSendBehindText);
{To get a watermark effect}
Pic.PictureFormat.Brightness := 0.75;
Pic.PictureFormat.Contrast := 0.20;
{To make any white in a picture transparent}
Pic.PictureFormat.TransparencyColor := clWhite;
Pic.PictureFormat.TransparentBackground := msoTrue;
Pic.Fill.Visible := msoFalse;
{ ... }